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Housing Remains Hot Despite Seasonal Slowdown

The housing market typically slows down at the end of the year. The reasons for this aren’t difficult to understand. Between harsher weather and the holidays, not a lot of people have moving on their mind during the month of December. But while the market has been experiencing a typical seasonal slowdown, it remains hot when compared to pre-pandemic levels. For example, a look at recently released numbers shows that the number of homes for sale with an accepted offer within one week was nearly double what it was during the same period in 2019, jumping from 15.8 percent two years ago to 29.6 percent in 2021. Similarly, the median number of days homes were on the market has nearly doubled from 2019. New listings and pending sales have also spiked compared to their pre-pandemic level. Simply put, the winter market has slowed down but continues to run hotter than normal, when compared to an average year. (source)