Often, when prices go down, the number of properties sold goes up. That was the general story during the past four months. Not in November. The median price dropped a bit to about $193,000 and the number of sales ticked down about 2 percent. Sellers are getting about 5 percent less than they did a year ago.
The realtors’ association says the latest data point to a market that is slowly stabilizing. The number of foreclosures is headed down. Analysts say in a year or so, the market will have worked through many of those lower priced homes.
Recent employment figures are moving in a modest but positive direction.
The realtors expect 2011 to end with slightly higher sales than 2010.