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Housing Market Trends
Stay on top of real estate trends so you’ll be confident in conversations with customers.
*Last update: December 12, 2024. Next scheduled update: January 16, 2024. Sources: Realtor.com®, 2024; Freddie Mac, 2024.
Total Homes for Sale
953,452
+26% year over year (November 2023)
For the last 12 months in a row, there’s been an increase in the total number of homes for sale year over year. More listings mean more options, which could help balance out the market and even bring down prices in some areas.
Average 15-Year Fixed Mortgage Rate
6.03%
+0.43 month over month (October 2024)
Compared to October, the average 15-year fixed rate went up this month. These are some of the highest rates we’ve seen since August of this year, but they’re still lower than what we saw in October of 2023.
Median Home Price
$416,880
-2% month over month (October 2024)
Home price growth is slowing down (and prices even dipped a bit this month) because more properties are for sale and there are fewer buyers in the market.
Median Days on Market
62
+10 days year over year (November 2023)
Home prices have gone up a lot over the past few years. Because of that, some buyers are hesitant, so properties are taking longer to sell than they did at this time last year.
Stream: Real Estate the Ramsey Way
Want to know what resonates with our referrals? Check out Dave Ramsey’s podcast Real Estate the Ramsey Way, where you can brush up on our teachings and advice.
