November 2024 saw gains over last year in home sales, inventory and other major metrics, according to the latest RE/MAX National Housing Report.
As fall came to a close in 2024, the U.S. housing market had a stronger November than a year ago, according to the most recent RE/MAX National Housing Report. In multiple metrics – including nationwide home sales, inventory, new listings and median sales price – November 2024 results increased year over year while dropping month over month.
The RE/MAX report, which aggregated data from 50 metro areas for a comprehensive look at the country’s current housing trends, found that home sales were up 6.3%, inventory was up 25%, and new listings were up 8.5% compared to November 2023.
“Year-over-year growth across nearly all major categories signals a strong finish to 2024,” says Amy Lessinger, President of RE/MAX. “With consumer confidence rising and Millennials driving demand—many of whom are reaching key life milestones like marriage and children – 2024 looks set to outperform 2023 overall.
“If these trends continue it could bode well for the 2025 housing market.”
Remember: Conditions vary by market
While national housing trends paint the big picture of the current real estate environment, local data showcases noteworthy disparities between markets across the U.S.
In November, places like Phoenix, Arizona; Las Vegas, Nevada; and Honolulu, Hawaii, saw a significant annual spike of new listings hitting the market, while places like Manchester, New Hampshire; Boston, Massachusetts; and St. Louis, Missouri saw fewer new listings than a year ago.
Consider home sales, too. For instance, in November, Bozeman, Montana, saw a 45.8% increase in annual home sales, whereas Miami, Florida, saw a 13% decrease in annual home sales.
It’s important to understand how local market conditions could impact your individual homebuying or selling process. That’s where the guidance from a real estate agent is essential. As trusted housing market experts with their finger on the pulse of local trends, RE/MAX agents leverage their skills to create winning results on their clients’ behalf.
What’s helpful: RE/MAX agents have the experience needed to get the job done in today’s market. In fact, here are five good reasons RE/MAX agents stand out from the competition.
Looking to buy or sell a home in 2025? Connect with a local RE/MAX agent today.
Article originally appeared on RE/MAX.com.
