November Closed Sales Surge 30%

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

• Single Family Closed Sales were up 30.1 percent to 8,340.
• Townhouse-Condo Closed Sales were up 20.6 percent to 2,373.
• Adult Communities Closed Sales were up 14.6 percent to 769.
• Single Family Median Sales Price increased 20.9 percent to $405,000.
• Townhouse-Condo Median Sales Price increased 11.5 percent to $300,000.
• Adult Communities Median Sales Price increased 19.8 percent to $260,500.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.