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 January 31, 2020 and the week ending January 29, 2021 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: “The housing market’s strong momentum in 2020 has carried into the new year, with the number of home sales rising year-over-year. However, a persistent lack of supply combined with elevated demand is leading to rapid price growth across the U.S., sometimes forcing buyers into bidding wars. In the immediate term, we expect the supply shortage to continue putting upward pressure on prices as mortgage rates remain at historical lows. As some of the Biden administration’s legislative policies begin to take hold, the housing industry may see larger changes that could help first-time homebuyers, increase the affordability of housing and address racial inequities.”
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 January, new listing volume is down 22.7% year-over-year
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Percent change in new listing activity from the end of January 2020 through the end of January 2021 versus the same period in 2019, broken down by home price:
- $0-$200k: (-21.5%)
- $200k-$400k: (-1.1%)
- $400k-$600k: +13.4%
- $600k-$1mm: +21.8%
- >$1mm: +26.0%
Total Net New Listings:
- In January, there were 170,675 net new listings placed on the market, representing a 20.0% decrease compared to January 2020
- Since January 2020, there have been 2,888,581 net new listings placed on the market, which is a 1.5% decrease versus the same period in 2019
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Percentage of total net new listings over the last 52 weeks, broken down by home price:
- $0-$200k: 22.1%
- $200k-$400k: 44.5%
- $400k-$600k: 17.9%
- $600k-$1mm: 10.3%
- >$1mm: 5.2%
Listings Under Contract:
- Over the last 52 weeks, 3,287,110 properties have gone into contract, representing a 6.3% increase relative to the same period in 2019
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Percentage of total contract volume since January 2020, 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 January, there were 260,369 listings that went under contract nationwide, which is a 6.1% increase year-over-year
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Percent change in contract volume year-over-year, broken down by home price:
- $0-$200k: (-16.2%)
- $200k-$400k: +2.5%
- $400k-$600k: +23.7%
- $600k-$1mm: +46.3%
- >$1mm: +64.1%
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The total volume of listings going into contract over the last 52 weeks versus the same period in 2019, broken down by home price:
- $0-$200k: (-12.7%)
- $200k-$400k: +6.7%
- $400k-$600k: +20.7%
- $600k-$1mm: +28.8%
- >$1mm: +32.8%
Median Listing Price Activity (Single-Family Detached Homes):
- The median price of all single-family listings in the U.S. is up 12.7% year-over-year and the median price of closed listings has increased by 18.5%
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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