Here is a look at home sales in December 2022. December is generally the month with the fewest home sales and new listings. Last month was pretty typical in that regard.
The overall number of pending listings is the lowest I have seen in a few years. Houses are selling but not very many are being put up for sale. There is still less than a 2-month supply of houses for sale and it takes on average 29 days to sell a house.
In some neighborhoods, the average sale price was higher than the average list price which means prices are still going up in those neighborhoods. Overall sale prices were up. Once the interest rates went down a little mortgage applications rose which may mean more competition for a smaller number of houses on the market this month.
For more local real estate numbers please see Local market conditions and home prices.
Real estate is local.
