Home sale asking prices were down 0.45% and active inventory was down 3.16% because of monthly seasonal changes, according to the Altos Research November Housing Market Update.
The Altos 10-city price composite of active sale listings for single-family homes in Boston, Chicago, New York, Los Angeles, San Diego, San Francisco, Miami, Las Vegas, Washington and Denver was $456,454 in November, down from $458,518 in October.
Twenty-three of the 26 markets Altos tracks experienced monthly decreases, including Washington (3.41%), San Diego (3.07%) and Salt Lake City (2.63%).
The company said housing markets can expect weekly declines in price, inventory and demand through the end of the year, adding that the first inklings of seasonal demand uptick will become visible in the third week of January.
Inventory of active home sale listings was down 3.16%, to 273,752 units, in the 10-city composite. The only markets with modest inventory increases were Miami, Washington and Tampa, Fla.