The passing of the home-buyer tax credit’s initial expiration date hasn’t yet slowed the urgency of home buyers in the MRIS region, as November saw a continuation of the strong sales we’ve seen in previous months.
There were 8,732 signed purchase agreements during the month, up 33.8 percent from a year ago.
All the sales activity is combining with falling inventory to stabilize housing prices. The November median sales price was down only 1.9 percent from a year ago to $255,000, the lowest year-over-year decline in home prices since 2007.
