San Francisco

U.S. existing home sales ticked up 0.5% from the previous month to a seasonally adjusted annual rate of 4.13 million, marking the third consecutive monthly increase, according to the National Association of REALTORS® (NAR). However, sales were down 1.0% from the same period last year. Regionally, sales rose month-over-month in the Northeast and South, were unchanged in the West, and declined in the Midwest. On a year-over-year basis, sales were flat in the Northeast and South and fell in both the Midwest and West.

New Listings were down 2.6 percent for single family homes and 26.7 percent for Condo/TIC/Coop properties. Pending Sales decreased 12.1 percent for single family homes but increased 31.0 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 10.5 percent to $1,690,000 for single family homes and 2.4 percent to $1,075,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 44.4 percent for single family units and 43.5 percent for Condo/TIC/Coop units.

The national median existing-home price continued to climb, rising 1.2% from a year ago to $409,200, according to NAR. This year-over-year increase—the 29th consecutive monthly gain—reflects ongoing tightness in housing supply. At the end of November, there were 1.43 million units for sale, down 5.9% from the previous month but up 7.5% from the same time last year, representing a 4.2-month supply at the current sales pace.