Monthly Home Sales Up
Nearly 20 Percent from a Year Ago

The housing market continued its extraordinary half-year run of high activity, with November 2020 home sales up almost 20% over November 2019 – establishing a new high for the month in the 13-year history of the report.

November did experience the normal seasonal decline from October, with home sales decreasing 14.5% month-to-month, but that drop was in line with the 12% average of the past five years. In fact, November 2020 broke several records for the RE/MAX National Housing Report, and inventory reached its lowest point since the report debuted in 2008.

In addition to Home Sales that eclipsed the previous high for November, set in 2017, new November records reflecting averages across 52 U.S. markets included:

• The Median Sales Price of $292,000 was up 13.8% from November 2019
• Days on Market was a mere 36 – down nearly two weeks from last year’s 49
• Months Supply of Inventory totaled 1.8 – only slightly more than the report record low of 1.7 set in August

Home sales continued to far outnumber new listings. November was the fourth consecutive month of 2020 to set a new report record for fewest listings.

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