It’s good news in terms of home sales for November, according to the RE/MAX National Housing Report. Despite the colder weather, the report posted an increase in number of sales over November 2015 to the tune of 19.1% and a price increase of 1.4% over October. According to the report, that is more homes sold than any other November in an eight-year history.

Median sale prices among the 53 markets studied, edge up 8.9% higher than November 2015.

“The continued decline of inventory and talk of rising interest rates may have contributed to November’s surge of home sales,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Over the past 11 months, the majority of markets have seen home prices return to their pre-recession levels, reaffirming that 2016 has been the best year for the housing market since the recession.”

For details on your local housing market or an update on what’s happening in Central Indiana’s real estate market, call Tim & Julie Schnepp. With 25 years of experience, Tim and Julie have seen it all and have not only endured market fluctuations but are thriving! Tim and Julie opened a second franchise this year, located in Noblesville. A first for the Noblesville area, which has never been home to a RE/MAX office before now.

Tim and Julie Schnepp, Broker/Owners of RE/MAX Legacy, Pendleton and Noblesville. Call (765) 778-3573 today.

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Description

The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report

is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum

representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each

state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some

exceptions.

Definitions

Transactions are the total number of closed residential transactions during the given month. Months Supply of Inventory is the total number of

residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pended) during

the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that

pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales

Price is the median of the median sales prices in each of the metro areas included in the survey.

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it

cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX

National Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of

each local MLS organization.