Home Sales Dip in November: Re/Max

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Home sales dropped 5.2% in November compared to a year earlier, according to data published Thursday by Re/Max.

The Denver-based realty company said in its national housing report that while sales fell, prices continued to rise. The median sales price for the month was $195,151, or 6.1% higher than the same time last year.

“As expected, sales cooled off in November and remained below the level we saw last year,” said Dave Liniger, Re/Max’s chief executive, in the report. “But with prices rising moderately, this market appears to be recovering at a more sustainable rate.”

Homes sold in November spent an average of 71 days on the market, or three days longer than a year ago, according to the report.

Article source: http://www.nationalmortgagenews.com/news/origination/home-sales-dip-in-november-remax-1043405-1.html

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