Looking at November 2020 MLS reports, we see a continuing seasonal trend of lower inventory and sales. We also see a continuation of the non-seasonal, 2020-special overall reduction of inventory. Ending in November, we sat at 732 units of inventory (versus 778 in October, and 1118 in November 2019). Sales came in at 422, for a Months-of-Inventory number of 1.7. This flows October’s MOI of 1.8 (and November 2019’s 3.3.) So, long story short, we are doing what we can with what’s out there. As you’d expect, Average Sold Price is $228k, versus $199k a year ago.
Our Mover’s Moving Index continued to reflect the effort, coming it a 209 transactions in November. Hopefully that bodes well for new home starts in the next quarter.