Photo: Joe Raedle / Getty Images
By: The Opinion Updated 02 Dec 2022, 13: 44 pm EST
The real estate market in the United States continued to cool down during the month of November with increasing inventory levels, a slower pace of sales and slowing prices, according to Realtor’s latest housing report.
National list price decreased to an average of $416,000 Dollars in November, below an all-time high of $449, dollars in June.
Typically, home prices are down about 2% from the peak of summer to last November, so this year’s price slowdown is greater than the usual seasonal relaxation.
L he active listing prices in the country’s largest metropolitan areas grew an average of 8.8% compared to last year.
Midwestern metro areas led active listing price growth, with an average increase of 12.1% during the last year.
Prices listed in the Midwest and South Milwaukee metropolitan areas (+41.1%), Memphis (+16.9%) and Miami (+26.8%) were the ones that grew the most among large metropolitan areas.
Increases in inventory
drove price reductions in November, as supply is starting to outpace demand.
These are the 9 major metropolitan areas in the United States where it is still possible find a home that costs less than $290, Dollars:
1.- Cleveland-Elyria, Ohio
Average trading price: $226,
Average year-on-year trading price: 5.3%
Average days on market: 41
2.- Pittsburgh, Pennsylvania
Average trading price : $100,
Average year-on-year trading price: 0.1%
Average days on the market: 54
3.- Rochester, New York
Average listing price: $240,
Average year-on-year trading price: 13%
Average days on market: 24
4.- Buffalo-Cheektowaga-Niagara Falls, New York
Average listing price: $240,02
Average year-on-year trading price: 10.3%
Average days on market: 54
5.- Detroit-Warren-Dearborn, Michigan
Average trading price: $277,
Average year-on-year trading price: 8.6%
Average days on market: 44
6.- St. Louis, Missouri
Average price of quote: $240,
Half price year-on-year price: 10.two%
Average days on market: 44
7.- Birmingham-Hoover, Alabama
Average trading price: $290,
Average year-on-year trading price: -1.1%
Average days on market: 53
8.- Louisville/Jefferson County, Kentucky-Indiana
Average listing price: $277,
Average year-on-year trading price: 13%
Gave average ace in the market: 38
9.- Indianapolis -Carmel-Anderson, Indiana
1396555295Average listing price: $290,02
Average year-on-year trading price: 9.6%
Average days on market: 54
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