The November Housing Supply Outlook just hit the internetz. As usual, here's a few quick takeaways.
Takeaway #1: The market segment that has the lowest months supply of homes for sale? Single-family detached homes under $120,000, which have 2.0 months of supply—an extreme seller's market.
Takeaway #2: The segment with the highest months supply? Single-family detached homes above $1,000,000, which have 37.6 months of supply. Things look even more extreme when you remove new construction properties from the equation—previously-owned homes in this category have 40.5 months of supply. In other words, it's a tough time to be a seller in the luxury market.
Takeaway #3: Sales are up from a year ago for every property type. The biggest growth in sales can be seen in the single-family detached segment, up 19.2 percent from a year ago.
Home Sales over the last 12 months: