November housing market is a 'Tale of Two Markets'
News Corporation - Class A (NWSA)
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Source: PR Newswire
SANTA CLARA, Calif., Nov. 30, 2018 /PRNewswire/ -- The U.S. housing market showed signs of cooling in many of the nation's largest metros this month with inventory increases outpacing the rest of the country, listing prices slowing and price cuts increasing. In contrast, smaller, more affordable markets continued to see price gains, according to realtor.com®'s November housing report released today. During the month of November, U.S. housing inventory rose 4 percent. However, in the nation's largest and most expensive metros, inventory increased at a more rapid 9 percent. Seven of the 10 markets posting the largest year-over-year inventory increases are located on the West Coast, five of which are in California. "The housing market is a Tale of Two Cities as the divergence widens between high-cost, large urban areas, and smaller, more affordable markets," said Danielle Hale, chief economist for realtor.com. "Buyers in larger metros are seeing more homes on the market and listing price
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