Despite the ongoing holiday season, which typically slows down the market, this year's situation may be entirely different. The latest housing statistics indicate that homebuyers will be appreciative of this data.

The encouraging news is the further decline in mortgage interest rates. As of the week ending November 22nd, the average interest rate for 30-year fixed-rate mortgages is 7.29%. This figure includes adjustments made for Thanksgiving.

Sam Carter, Chief Economist at Real Estate USA, stated that rates have dropped half a percentage point in recent weeks. This is good news for potential homebuyers who have been waiting for lower rates and more available properties.

However, data from the past few weeks indicates that existing home sales have reached the lowest point in 13 years. This suggests that buyers remain conservative regarding prices and supply.

Nevertheless, a positive change is the 5% increase in the number of newly listed properties in the week ending November 18th compared to the same period last year. This is a promising sign that more homes are entering the market.

Hannah Jones, an economic research analyst at Realtor.com, pointed out that while housing inventory has been tight in recent months, the number of newly listed homes has started to rise in the past three weeks. This is a welcome change for the inventory challenge.

Furthermore, in the week ending November 18th, the total number of active listings (including new and existing listings) increased by 1.5% compared to the same period last year, marking the second consecutive week surpassing last year's levels.

However, the overall supply-demand issue cannot be ignored. The current inventory of available homes is 41.8% lower than pre-pandemic levels.

Although this remains a challenge, the monthly increase in housing starts and building permits indicates that more homes are slowly and steadily emerging.

For homebuyers, pricing remains a concern. In the week ending November 18th, the national median list price increased by 1.2% compared to the same period last year.

Nevertheless, the decrease in mortgage interest rates is expected to alleviate pressure on homebuyers. As more homes enter the market, supply issues may ease, and home prices could stabilize.

Sales velocity is also a crucial indicator. Despite housing sales typically slowing down in the fall, this year is different. In the week ending November 18th, homes spent four fewer days on the market compared to the same period last year. This indicates an acceleration in the pace of home sales.

Homebuyers should take note that if they find a desirable property, they should act promptly and not wait for the deal. This holiday season's real estate market will be an unusually dynamic one.