December 2023 exhibited a traditional end-of-year slowing in housing market activity, punctuated by many similarities to December 2022.

Three metrics showed no change year over year:

• Homes sold were on the market an average of 47 days in both Decembers – seven days longer than in November 2023

• December 2023 sales averaged 98% of the listing price, the same as the prior year and slightly down from 99% in November 2023

• Months’ supply of inventory in both Decembers was 2.5, slightly down from 2.6 in November 2023

Other results included:

• December home sales dropped 7.3% year over year – and 2.3% from November. As in 2022, the number of home sales declined year over year in every month of 2023.

• Inventory slipped just 0.7% from December 2022 while dropping 10.4% from November. Inventory declined year over year each of the last seven months of 2023.

Two metrics made year-over-year gains in December across the 52 metro areas surveyed:

• December’s new listings were up 2.7% year over year while down 24.3% from November.

• The median sold price of $400,000 was 3.9% (or $15,000) higher than December 2022 and 1.2% lower than November.

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