Market Report - November 2020

Dated: December 21 2020

Views: 168

Market Report - November 2020



November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

New Listings were up 13.4 percent to 549. Pending Sales increased 44.0 percent to 563. Inventory shrank 46.2 percent to 1,186 units.

Prices moved higher as Median Sales Price was up 28.5 percent to $391,850. Days on Market decreased 7.9 percent to 129 days. Months Supply of Inventory was down 58.3 percent to 2.0 months, indicating that demand increased relative to supply

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.

Blog author image

Ryan Bohr

When the opportunity arose for Ryan Bohr to join a dynamic team of Realtors in Hilton Head Island, he went "All-In" moving his wife and two young children from Raleigh, NC. He was most recently invo....

Latest Blog Posts

Market Report - August 2021

Market Report - August 2021The booming U.S. housing market has spilled over to the rental market, which has seen demand for apartment and single-family rentals skyrocket this year, as high sales

Read More

Market Report - July 2021

Market Report - July 2021The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment

Read More

Market Report - June 2021

Market Report - June 2021School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and

Read More

Market Report - May 2021

Market Report - May 2021As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low

Read More