Holiday Slowdown Arrives in December with Some Silver Linings For Buyers
Tweet
Share
E-mail- Inventory of homes actively for sale grew for the 14th straight month
- December brought 0.9% more newly listed homes compared to the same time last year
- Homes spent 70 days on the market, the slowest December in five years
"December is traditionally a slower time for the market, as people settle in for the holidays, and we expect to see a seasonal downturn each year. Compounding this, mortgage rates are hovering in the high 6s, following a strikingly different trend than at this time last year," said
Metric | Change over | Change over |
Median listing price | -1.8% (to | +34.2 % |
Active listings | +22.0 % | -15.7 % |
New listings | +0.9 % | -11.0 % |
Median days on market | +9 days (to 70 days) | -7 days |
Share of active listings with price | +0.2 percentage points (to 12.9%) | +2.4 percentage points |
Median List Price Per Sq.Ft. | +1.3 % | +49.0 % |
A Slow, but Improved, December as Inventory Ticks Up
While homes actively for sale grew for the 14th straight month in December, the year-over-year growth of 22.0% was slightly lower than November's year-over-year growth, which was 26.2%. That being said, inventory is still inching its way back to 2017-2019 levels. Seller activity stalled in December, as newly listed homes were 0.9% above last year's levels, a decrease from November's rise of 2.0%, due in part to the Christmas holiday. Furthermore, in December, inventory sat 15.7% below pre-pandemic levels, which was a large decrease from the previous month's 21.5% gap.
More Time for Homebuyers as December Days on Market Hits 2024 High
Homes sat on the market for longer this December, compared to the same time last year, with the typical home spending 70 days on market, which is seven more days than last December and six more days than
Out of the 50 largest metros, 46 saw time on market go up in December. Specifically,
Increase in Price per Square Foot
Price per square foot continues to rise, experiencing a 1.3% increase this December compared to the same time last year. However, some metro areas saw significantly higher gains, with double digit growth in
Metro Area | Median Listing | Median Listing | Median Listing | Median Listing | Median Listing |
-3.6 % | -0.6 % | 25.8 % | 47.9 % | ||
-7.7 % | -5.3 % | 42.4 % | 51.8 % | ||
1.4 % | 0.9 % | 15.5 % | 27.8 % | ||
0.0 % | 0.0 % | 14.1 % | 28.6 % | ||
0.2 % | 3.4 % | 36.0 % | 56.6 % | ||
0.4 % | 4.0 % | 31.6 % | 46.5 % | ||
5.6 % | 1.2 % | 25.8 % | 54.8 % | ||
-0.7 % | 1.9 % | 16.2 % | 31.1 % | ||
-4.8 % | 3.4 % | 23.2 % | 50.5 % | ||
9.1 % | 13.9 % | 33.4 % | 52.8 % | ||
-2.9 % | 3.3 % | 27.1 % | 52.6 % | ||
-2.9 % | -0.3 % | 25.1 % | 41.7 % | ||
-5.4 % | -1.1 % | 16.1 % | 34.1 % | ||
6.2 % | 1.4 % | 11.1 % | 27.1 % | ||
2.6 % | 12.9 % | 37.9 % | 66.8 % | ||
0.4 % | -0.3 % | 20.5 % | 36.4 % | ||
1.6 % | 2.4 % | 21.2 % | 49.6 % | ||
-5.7 % | -2.2 % | 28.2 % | 45.9 % | ||
-7.5 % | -1.2 % | 17.9 % | 37.9 % | ||
1.9 % | 4.6 % | 46.5 % | 53.9 % | ||
-0.5 % | 1.6 % | 29.5 % | 42.8 % | ||
1.7 % | 1.9 % | 27.1 % | 37.7 % | ||
3.5 % | -0.4 % | 41.9 % | 57.6 % | ||
-9.9 % | -6.6 % | 30.7 % | 39.8 % | ||
6.7 % | 8.5 % | 41.0 % | 46.6 % | ||
0.7 % | -0.1 % | 20.9 % | 28.0 % | ||
-3.9 % | 0.2 % | 46.2 % | 60.3 % | ||
0.0 % | -1.2 % | 16.7 % | 25.5 % | ||
2.0 % | 1.5 % | 30.4 % | 66.8 % | ||
-3.1 % | -0.1 % | 24.0 % | 37.5 % | ||
-4.3 % | -2.4 % | 32.5 % | 51.4 % | ||
5.3 % | 5.4 % | 25.4 % | 48.9 % | ||
-5.1 % | 0.6 % | 31.6 % | 49.4 % | ||
-1.7 % | 3.2 % | 23.7 % | 30.8 % | ||
-0.5 % | 0.5 % | 28.0 % | 38.1 % | ||
5.0 % | 5.9 % | 41.9 % | 44.1 % | ||
-0.4 % | 1.0 % | 23.5 % | 49.6 % | ||
-2.3 % | 2.9 % | 30.1 % | 55.0 % | ||
3.1 % | 0.9 % | 47.4 % | 56.2 % | ||
3.0 % | 4.4 % | 28.8 % | 38.2 % | ||
-1.6 % | -0.5 % | 24.2 % | 34.6 % | ||
-1.7 % | -1.9 % | 18.3 % | 33.7 % | ||
-1.6 % | -0.5 % | 34.5 % | 52.6 % | ||
-10.9 % | -6.5 % | -1.1 % | 17.9 % | ||
-2.3 % | -0.9 % | 17.0 % | 24.0 % | ||
-3.3 % | 2.0 % | 24.9 % | 46.6 % | ||
0.9 % | -0.1 % | 32.0 % | 27.4 % | ||
-6.0 % | -5.5 % | 41.3 % | 56.9 % | ||
3.3 % | 5.2 % | 29.6 % | 45.6 % | ||
-2.1 % | 3.4 % | 21.8 % | 51.5 % |
Metro Area | Active Listing | New Listing | Median Days | Median Days | Price– | Price- |
38.3 % | 17.8 % | 65 | 12 | 16.2 % | +3.2 pp | |
13.0 % | -14.2 % | 80 | 6 | 16.1 % | -3.9 pp | |
17.5 % | 5.4 % | 49 | 3 | 12.3 % | -0.7 pp | |
19.0 % | 17.1 % | 69 | 8 | 12.6 % | -2.5 pp | |
1.1 % | -18.2 % | 60 | 7 | 8.9 % | -0.2 pp | |
17.0 % | -14.1 % | 61 | 2 | 5.8 % | +0.3 pp | |
33.6 % | 3.6 % | 63 | 10 | 16.0 % | +3.1 pp | |
6.4 % | 11.8 % | 51 | 1 | 10.2 % | -1.8 pp | |
18.2 % | -11.0 % | 52 | 8 | 12.5 % | 1.5 pp | |
3.7 % | -19.1 % | 55 | 4 | 13.0 % | -0.7 pp | |
24.9 % | -1.5 % | 56 | 7 | 17.7 % | -0.3 pp | |
31.1 % | 14.7 % | 66 | 8 | 17.4 % | +0.0 pp | |
41.9 % | 0.8 % | 74 | 13 | 24.1 % | +11.5 pp | |
8.0 % | -1.6 % | 50 | -1 | 11.8 % | -0.4 pp | |
3.4 % | -9.0 % | 49 | 4 | 7.4 % | +0.6 pp | |
24.5 % | 9.0 % | 59 | 3 | 13.6 % | +0.5 pp | |
12.1 % | 0.4 % | 60 | 3 | 16.9 % | -2.2 pp | |
36.8 % | 2.5 % | 78 | 17 | 17.9 % | +2.9 pp | |
12.2 % | 1.6 % | 68 | 4 | 11.6 % | +1.7 pp | |
41.5 % | 16.3 % | 63 | 9 | 15.5 % | +0.7 pp | |
26.3 % | -7.1 % | 63 | 9 | 9.0 % | +1.5 pp | |
13.4 % | 11.2 % | 51 | 3 | 15.3 % | -2.7 pp | |
18.5 % | -10.2 % | 73 | 10 | 15.5 % | -3.0 pp | |
45.4 % | 11.3 % | 79 | 18 | 14.7 % | +0.7 pp | |
6.0 % | -16.0 % | 45 | 1 | 11.6 % | -3.1 pp | |
8.0 % | 0.5 % | 59 | 5 | 10.1 % | -0.3 pp | |
17.1 % | 3.6 % | 66 | 22 | 11.9 % | -3.1 pp | |
12.4 % | -11.6 % | 83 | 6 | 12.3 % | -0.3 pp | |
0.3 % | 6.4 % | 73 | 2 | 4.6 % | -1.3 pp | |
28.4 % | -4.1 % | 58 | 0 | 15.2 % | -2.6 pp | |
42.4 % | -8.5 % | 80 | 22 | 17.0 % | +0.4 pp | |
6.4 % | -5.9 % | 57 | 1 | 10.9 % | -1.1 pp | |
32.8 % | 5.2 % | 66 | 13 | 21.2 % | +0.3 pp | |
14.4 % | -10.0 % | 69 | 3 | 12.2 % | -1.0 pp | |
13.0 % | -6.7 % | 80 | 14 | 20.8 % | +8.7 pp | |
4.3 % | -9.2 % | 49 | 4 | 16.6 % | +7.8 pp | |
27.0 % | -1.8 % | 70 | 7 | 11.6 % | +0.7 pp | |
10.1 % | 2.2 % | 54 | 0 | 10.5 % | +1.5 pp | |
32.8 % | -1.9 % | 66 | 7 | 11.1 % | +0.4 pp | |
1.4 % | -27.6 % | 56 | 21 | 3.9 % | -5.9 pp | |
22.1 % | -8.2 % | 62 | 10 | 11.8 % | +0.9 pp | |
16.1 % | 3.8 % | 74 | 6 | 17.7 % | -0.8 pp | |
41.2 % | 0.0 % | 55 | 11 | 10.9 % | +0.2 pp | |
14.0 % | -3.6 % | 64 | 6 | 7.9 % | +0.4 pp | |
-1.0 % | -18.5 % | 50 | 7 | 7.2 % | +1.1 pp | |
18.1 % | -7.4 % | 63 | 6 | 10.5 % | +1.2 pp | |
9.6 % | -3.2 % | 58 | 5 | 12.9 % | +1.4 pp | |
27.0 % | 8.0 % | 72 | 15 | 19.6 % | -0.2 pp | |
17.7 % | 16.9 % | 47 | 2 | 14.4 % | -3.2 pp | |
19.9 % | -3.5 % | 50 | 0 | 10.8 % | +1.0 pp |
Methodology
Realtor.com® housing data as of
About Realtor.com®
Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com®.
Media contact: Asees Singh, [email protected]
View original content:https://www.prnewswire.com/news-releases/holiday-slowdown-arrives-in-december-with-some-silver-linings-for-buyers-302344836.html
SOURCE Realtor.com
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chunghwa Telecom Earns Frost & Sullivan's 2026 Recognitions for Telecom Market Leadership and 5G Technology Innovation
- Cofiroute selects TomTom Traffic to enhance real-time motorway operations and driver information
- Latest Crypto News: XRP Eyes $1.60 While Cardano Falls 10% – Is Apeing Whitelist the Gateway to the Next 1000x Crypto?
Create E-mail Alert Related Categories
PRNewswire, Press ReleasesRelated Entities
ARKSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
