Thanksgiving week is historically one of the slowest stretches in the real estate calendar, and this year was no exception, at least when it comes to new listings. But even with fewer homes hitting the market, buyers didn’t completely vanish… and prices did something unexpected.

This was a textbook Thanksgiving week: fewer listings, fewer showings, and lots of people focused on turkey, not tours. But the number of homes under contract held steady, and median days on market dropped, signs that the serious buyers are still making moves.

The sharp price jump? That’s likely skewed by a handful of higher end sales hitting during a low volume week. Don’t read it as a market wide surge but it does show that top tier homes are still selling.

Sellers: Don’t overreact to the price jump but know that low inventory gives you an edge, even in December.

Buyers: Inventory is tight, but competition is also low. If you're house hunting during the holidays, you’re already ahead of the curve.

Interest Rate: 6.29% (⬇️ down from 6.39%)

So What Does That Actually Look Like?

Let’s do the math:

At the current median price of $535,000, with a 5% down payment ($26,750), your loan would be about $508,250

At a 6.29% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $3,147.

That’s before taxes, insurance, and HOA fees, but it gives you a clear picture of what monthly costs look like in today’s market.

Two weeks of rate drops in a row is worth watching. This dip may feel small, but if the Fed signals they’re done hiking, we could see rates soften into early 2024 and that could reignite demand.

Buyers: Every 0.1% matters. If you’re on the fence, it may be worth running new numbers with your lender.

Sellers: If rates keep falling, more buyers will come off the sidelines especially in January. You might be listing into a stronger pool than expected.

💡 Not sure if buying or renting makes more sense right now?