Blog | Muskoka & Haliburton County - for sale

RE/MAX National Housing Report: Median Sales Price Declined For Third Straight Month

Posted by Leah Ambler on November 27th, 2022

 

With fewer home sales across the 53 U.S. metros measured in the report, home price appreciation continues to slow.

4min read

October 2022 marked the third consecutive month of a decline in Median Sales Price, according to the latest RE/MAX National Housing Report. October also saw 30.7% fewer closings and 36.8% more homes for sale compared to the same time last year. And at 35 days on market, the average home took nearly a week longer to sell than it did in October 2021.

These notable metrics are a proof point of the changing housing market landscape since the onset of the COVID-19 pandemic over two years ago.

Although industry reports are revealing a continued decline in home sales,…

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