HouseCanary, Inc. (“HouseCanary”), a leading provider of residential real estate data and home valuations, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between the week ending March 13, 2020 through the end of November versus the same period in 2019. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.
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HouseCanary Market Pulse Report (Graphic: Business Wire)
Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary, commented: “We anticipate that the housing market will maintain the status quo through year-end, but there is strong potential for a significant shift in the new year along with a transition of White House leadership, Congressional and regulatory appointment decisions and a possible extension of the eviction moratorium. For now, outsized demand from homebuyers is motivating sellers to maintain active listings and pushing prices on closed listings to record highs across the country. Despite a turbulent election and a seasonal slowing of housing market activity, elevated demand levels continue to drive the housing market’s recovery and have largely offset the steep drop-off in new listings, contracts and closures observed recently.”
Select findings from this month’s Market Pulse are below. Be sure to review the Market Pulse in full for extensive state-level data.
Monthly New Listing Volume (Single-Family Detached Homes):
- For the month of November, new listing volume is down 10.7% year-over-year
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Percent change in new listing activity since the week ending March 13 through the end of November versus the same period in 2019, broken down by home price:
- $0-$200k: (-28.1%)
- $200k-$400k: (-10.5%)
- $400k-$600k: +0.4%
- $600k-$1mm: +6.9%
- >$1mm: +10.4%
Total Net New Listings:
- In the month of November, there were 199,999 net new listings placed on the market, representing a 7.0% increase compared to November 2019
- The decline in new listing volume was more than offset by a 44.8% decrease in removals over the same period
- Since the week ending March 13 through the end of November, there have been 2,214,922 net new listings placed on the market, which is a 5.1% decrease versus the same period in 2019
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Percentage of total net new listings since March 13, broken down by home price:
- $0-$200k: 22.3%
- $200k-$400k: 44.4%
- $400k-$600k: 17.8%
- $600k-$1mm: 10.4%
- >$1mm: 5.1%
Listings Under Contract:
- Since the week ending March 13, 2,504,848 properties have gone into contract across 41 states, representing a 4.6% increase relative to the same period in 2019
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Percentage of total contract volume since the week ending March 13, broken down by home price:
- $0-$200k: 23.0%
- $200k-$400k: 44.6%
- $400k-$600k: 17.6%
- $600k-$1mm: 10.0%
- >$1mm: 4.8%
Monthly Contract Volume (Single-Family Detached Homes):
- For the month of November, there were 296,148 listings that went under contract nationwide, which is a 14.2% increase year-over-year
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Percent change in contract volume year-over-year, broken down by home price:
- $0-$200k: (-10.5%)
- $200k-$400k: +14.0%
- $400k-$600k: +32.0%
- $600k-$1mm: +48.6%
- >$1mm: +59.3%
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The total volume of listings going into contract since the week ending March 13 through the end of November versus the same period in 2019, broken down by home price:
- $0-$200k: (-13.7%)
- $200k-$400k: +5.0%
- $400k-$600k: +18.7%
- $600k-$1mm: +26.3%
- >$1mm: +28.8%
Median Listing Price Activity (Single-Family Detached Homes):
- In November, the median price of closed listings increased in 24 states since the end of October.
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The most notable month-over-month price surges include:
- New York: +9.4%
- Washington, D.C.: +6.9%
As a nationwide real estate broker, HouseCanary’s broad multiple listing service (“MLS”) participation allows us to evaluate listing data and aggregate the number of new listings as well as the number of new listings going into contract for all single-family detached homes observed in the HouseCanary database. Using this data, HouseCanary continues to track listing volume, new listings, and median list price for 41 states and 50 individual Metropolitan Statistical Areas (“MSAs”).
About HouseCanary:
Founded in 2013, valuation-focused real estate brokerage HouseCanary provides software and services to reshape the real estate marketplace. Financial institutions, investors, lenders, mortgage investors, and consumers turn to HouseCanary for industry-leading valuations, forecasts, and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more. Learn more at www.housecanary.com.
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