# Is This the Turning Point for Real Estate? | November Housing Market Update

Source: https://www.youtube.com/watch?v=SdEX943mOvw
Recap page: https://rapidrecap.app/video/SdEX943mOvw
Generated: 2025-11-14T17:44:22.164+00:00

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## Quick Overview

The housing market is cooling down in November 2024, showing signs of a market correction rather than a crash, which creates significant opportunities for real estate investors who understand the data, particularly as affordability shows minor improvements while inventory rises and home prices stabilize or slightly decline year-over-year in real terms.

**Key Points:**
- The national median home price is $440,387, showing a slight 1.4% year-over-year increase, but real (inflation-adjusted) prices are down 1% nationally, signaling stabilization.
- Inventory of homes for sale is up 8.7% year-over-year, reaching 2,058,269 active listings, which is still below pre-pandemic levels.
- Median Days on Market (DOM) increased to 51 days in October 2024, up 7 days year-over-year, indicating homes are sitting longer, especially in slower markets like Miami (over 90 days).
- Regional price patterns show the Northeast at 0% median list price change year-over-year (though +3.8% per square foot), while the West is declining (-2.6% list price, -1.6% per square foot).
- Mortgage rates have dropped significantly since January 2025 (when they peaked near 7.25%) to around 6.3% currently, which is the most encouraging factor for affordability.
- The speaker advises investors to be aggressive in their offers and focus on markets where inventory is rising and prices are beginning to correct, as this environment offers the best opportunity for value buys.

![Screenshot at 00:22: The scatter plot titled 'Fastest and Slowest Housing Markets' visually compares the change in Median Days on Market \(Y-axis\) versus the change in Price per Square Foot listing growth \(X-axis\) across major US metropolitan areas as of October 2025.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-00-22.png)

**Context:** The video features Dave Meyer, Head of Real Estate Investing at BiggerPockets and author of 'Start with Strategy' and 'Real Estate by the Numbers,' providing an update on the US housing market conditions for November 2024. He analyzes key metrics like home prices, inventory levels, days on market, and mortgage rates to assess whether the market is undergoing a healthy correction or heading toward a crash, emphasizing that investors need data-driven strategies to capitalize on current opportunities.

## Detailed Analysis

Dave Meyer delivers the November 2024 housing market update, concluding that the market is experiencing a correction, not a crash, creating opportunities for savvy investors. He notes that while nominal home prices are up slightly (1.4% YoY nationally to $440,387), inflation-adjusted prices are actually down 1% year-over-year, indicating a flattening or slight decline in real terms (15:19). Inventory is up 8.7% YoY, reaching 2,058,269 homes, though still below pre-pandemic levels (6:15). The Median Days on Market (DOM) is now 51 days, a 7-day YoY increase, with slower markets like Miami taking over 90 days (11:01). Regional data shows significant divergence: the Northeast is flat in median list price change (0%), while the West is declining (-2.6% list price) (3:43). Mortgage rates have significantly dropped from their January 2025 peak near 7.25% to around 6.3%, which is the primary driver improving affordability (17:31). Meyer argues this environment favors buyers who are patient and aggressive in their offers, as sellers are becoming more realistic (4:18). He advises investors to look for markets where inventory is rising and prices are showing signs of correction, as this offers the best chance to acquire assets at better values.

### November Housing Market Update

- Market is in a correction, not a crash
- Housing affordability is slowly improving despite high mortgage rates
- Inventory is rising (up 8.7% YoY) while home prices are stabilizing or slightly declining in real terms (15:19, 6:15).

### Sellers Get Realistic (Home Prices)

- Sellers are adjusting expectations; list prices are slightly down in real (inflation-adjusted) terms nationally (-1.0%) (15:35).

### Inventory Rises Double-Digits, But...

- National inventory is up 8.7% YoY to 2,058,269 units, but this is still below pre-pandemic levels (6:15, 6:07).

### Homes Sit for Longer

- Median Days on Market is 51 days, up 7 days YoY, indicating homes are taking longer to sell (11:01). Markets like Miami are particularly slow (over 90 days) (12:24).

### Best Opportunity for Buyers

- Buyer opportunity exists because inventory is up and sellers are adjusting, creating favorable negotiating conditions, despite mortgage rates still being high (4:18, 13:14).

### This is GREAT News

- Improving affordability due to falling mortgage rates (currently around 6.3%) is great news for buyers, even if home prices remain high relative to real wages (17:15, 15:32).

### What I'm Looking For

- Investors should focus on local data trends and look for assets where prices might drop slightly, as this offers superior value acquisition opportunities (22:54, 24:44).

![Screenshot at 00:01: Close-up of a thermometer indicating cold temperatures, setting a visual tone related to the 'cooling down' market mentioned.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-00-01.png)
![Screenshot at 00:03: Aerial view of a snowy suburban housing development, visually representing the housing market context.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-00-03.png)
![Screenshot at 00:22: Scatter plot comparing Time on Market vs. Price Change across various US cities, illustrating regional market differences.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-00-22.png)
![Screenshot at 00:23: Line graph showing the House Price Index divided by Median Household Income since 1976, highlighting the long-term affordability trend.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-00-23.png)
![Screenshot at 01:29: Overlay graphic listing the key topics covered in the episode, signaling the structure of the discussion.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-01-29.png)
![Screenshot at 03:03: Chart displaying the percentage of Homes with Price Drops, showing a recent upward trend to 22.8%.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-03-03.png)
![Screenshot at 06:15: Line graph showing the total # of Homes for Sale nationally since 2009, illustrating the recent inventory increase \(up 8.7% YoY\).](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-06-15.png)
![Screenshot at 11:11: Graph showing Median Days on Market \(DOM\) is currently 51 days, up 7 days year-over-year, with historical context.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-11-11.png)
![Screenshot at 17:12: Line graph tracking national Mortgage Rates from Dec '24 to Nov '25, showing a significant recent drop to around 6.3%.](https://ss.rapidrecap.app/screens/SdEX943mOvw/00-17-12.png)