Home-selling activity is finally gaining some steam. The number of homes newly listed for sale during the four weeks ending February 20 was down just 2% year over year, the smallest decline since mid-November. More new listings were met with hearty demand. Pending sales rose 1%, the first increase since mid-January. The market again set new record highs for home sale prices, asking prices, buyers’ mortgage payments and the share of homes selling within days of hitting the market. We also saw a new all-time low for the total number of homes for sale.
”The good news for homebuyers is that each week more homes are being listed for sale,” said Redfin Deputy Chief Economist Taylor Marr. “There is growing evidence that January’s dramatic drop in new listings was only a temporary blip driven by heavy winter storms and the spike in Covid cases, so homebuyers may have some hope for better selection in the coming spring season.”
Unless otherwise noted, the data in this report covers the four-week period ending February 20. Redfin’s housing market data goes back through 2012.
Refer to our metrics definition page for explanations of all the metrics used in this report.
