We are halfway into November 2023. Where does the market stand today?

For Single Family Homes (SFH), we are at 38.6 average days on market, selling at an average of 4.94% below original list price. We are tracking at 34.21% below this time last year in number of sales. We are also looking at an FPVI™ of 2.03, indicating the trajectory of average pricing is up in the next 3 to 5 weeks. We are down 8.18% from the peak of the market and have 3.38 months worth of homes on the market right now (the absorption rate).

What do you need to know?

Homes that are selling are holding value. But it’s taking a lot longer to get there.