Residential real estate market sales activity hit what industry officials call a “seasonal slowdown,” though statistics indicate that it’s notably slower than even the same period a year earlier.
Data released Wednesday by the Association of Interior Realtors indicates a total of 813 residential unit sales recorded in the region last month, which is a 5.9-per cent decrease in sales compared to November 2022. The average number of days to sell a home, always a good barometer to watch, decreased to 69 days compared to the previous month’s 73 days.
“Seasonally, it is not unusual for market activity to soften as we head into the December holidays,” said Association of Interior Realtors president Chelsea Mann.
Mann said that buyers and sellers “are still feeling frustrated and constrained by high mortgage rates.”
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