I was very interested in the December housing number. Due to the unseasonably warm temperatures, I thought maybe we’d have some support or perhaps even a move upwards from November. But, to my chagrin, the seasonal forces are too strong. Prices dropped about $2,000, from $138,687 in November to $136,354 in December. No reason for alarm though, since this is an every year occurrence, and our yearly growth rate has accelerated to almost 1% as measured on a yearly basis! Hip hip… hooray!
Months of supply also dropped to 6.9 months, which is at the top range of a neutral market, close to the 7 months supply of a buyers market and still indicative of slight downward pressure on prices.
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