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Prices Higher Than Expected In November

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This is one of those pieces of news that are good for one part of the home-owning population, the sellers. Buyers might not be too happy to hear that November prices were up 21% compared to last year (but many will say it is more proof the housing market is returning to normal). Also of note is that the number of contracts is down slightly, so low inventory is still a factor. Check a breakdown of what the numbers mean in RBI's blog post.

· DC Metro November Sales Up 21.5% Over Last Year; Prices up 10.5% [RBI]