Current State of the Housing Market; Overview for mid-November

A Sharp Decline in Sales, House Prices Falling

Over the last month …

1. New listings have declined further year-over-year.

2. Mortgage rates had increased further but declined this week.

3. House prices are declining month-over-month (MoM) as measured by the repeat sales indexes.

New Listing Have Declined Significantly

Here is a graph of new listing from Realtor.com’s October Housing Trends Report showing new lis…