Things to Watch This Week:

Consumer Price Index (Tuesday)

Home Depot Earnings Call (Tuesday)

New Residential Construction Data (Friday)

In Mesa County

There are currently 542 active homes on the market in Mesa County. This is the same as last week.

The average sold price YTD is $430,084 and the median sold price YTD is $390,000. The median sold price in October was $406,500.

NATIONAL MARKET UPDATE  

Inventory growth in November is rare, but Altos Research reports 62,000 new listings last week, up 0.7% from the prior week, with 9,000 under contract. Although 39.2% of listings have had a price cut, prices are still above last year.

CoreLogic found single-family home prices rose in September for the third month in a row and are up 4.5% year-over-year, the largest annual gain since February. But they forecast yearly growth will slow to 2.6% by next September.

The Mortgage Bankers Association recorded purchase mortgage applications up 3% last week, reversing three weeks of declines. Even applications for refinances were up 2% from the week before.

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