Home sales remain strong in the Bay Area and Tahoe/Truckee as the end of the year draws near.
Typically, sales fall off in November and December, when holiday plans crowd out thoughts of relocating households, but we’re seeing only a slight dip in real estate activity this year from the frantic pace of previous months, with Pacific Union International’s regional offices reporting solid results for the month of November as measured by the percentage of homes in contract.
Typically, more than 35 percent of homes in contract indicates a sellers’ market and less than 25 percent reflects a buyers’ market. A balanced market has 25 to 35 percent of homes in contract. Other measurements, such as median sales price and months’ supply of inventory, also indicate an active real estate market as we move into December.
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