After two very strong months of data covering October and November, we got one last month of strong closed sales data in December, but a slowdown in pending sales growth suggests we shouldn’t expect a boom in closings to start out the New Year.

Click below for the four key metrics our Windermere Economist, Jeff Tuker, watches to track supply and demand in the market: closed and pending sales, which tell us a lot about demand; and listings – new and active – which tell us a lot about supply.

Closed sales of single-family homes climbed 18% year-over-year, from about 3500 to over 4100. Pending sales, which will mostly close in January, only climbed 5% from the same month last year.

On the supply side, about 8% more new listings hit the market this December compared to last one, while the level of inventory in the reservoir was 20% higher at the end of 2024 than at the end of 2023. Of course this is a quiet time of the year in the market, so we should expect all these measures of listings to pick up soon.

The final key metric to check in on: the median price for those closed single-family home sales climbed about 5% year-over year, from $610,000 to $639,000. That’s a bit of a cooldown from price growth in the previous couple of months, and it’s pretty similar to the pace I’m projecting for 2024.