Home Sales Drop, Redfin Reports

Real estate brokerage,Redfin, reported a drop in home sales of 21 percent from October, 2014 to November, 2014. Home sales were also down a total of 5 percent from November, 2013. Home prices remained steady however, and according to the report, home prices have risen 6.2 percent year over year since November, 2013.

The median home sales price has barely budged for three months, flat lining at $274,000, Redfin reported, and there was a 27.7 percent drop in new listings in November, 2014. Their report suggests that these stats indicate an unbalanced housing market.