Ending the year on a (slightly) positive note?

Although the gains are slight, overall the trends in the housing market are positive, which certainly hasn’t been the case for the last few years. These trends include:

  1. Lower mortgage rates: For the third week in a row, rates decreased, now at 7.44%. While this is obviously still high, it’s a relief from the climb to 8% which seemed a certainty just a month ago.
  2. More listings: There 6.4% more listings for the week ending Nov. 11 that a year ago.
  3. Increased market pace: Home are moving at a faster pace – two fewer days on the market – that a year ago.

Of course, all the news is not rosy: home prices increased for the week ending Nov. 11 by 0.7% over last year but, overall, the trends are positive.

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