Home prices, sales, and listings all fell between November and December as the housing market weathered the usually-slow holiday season with a smaller dip in prices than the same time a year ago. Listings continued to drop, falling to a level 33 percent below December 2011 and 44 percent below December 2010. Thanks to the lack of homes on the market to buy, sales fell to their lowest level in 10 months, but still closed out the year slightly ahead of 2011.
Despite consistent home price gains since February, homeowners are still reluctant to list their homes for sale. Meanwhile, builders are moving to fill the gap, as data released last week show that private residential construction spending increased again in November.
The key metrics across 19 major metropolitan markets are:
For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Price Tracker in Redfin’s Research Center.
