The number of days homes are staying on the market remains at a record-low in the face of intense and persistent buyer demand. Sales are at levels not seen since prior to the Great Recession and are expected to remain high, and prices continue to grow quickly. September was the best month for existing home sales since 2006
Time on market matches record lows
Scalding homebuyer demand continues to drive inventory lower
Price growth continues months-long stretch of uninterrupted annual growth
Homeowners that do decide to sell are realizing big gains. Median sale prices rose to $289,625 in the week ending Sept. 19 (the latest week for which sales price data is available), up 12.5% over the same period in 2019. Home value growth expected to continue accelerating in coming months
2020 home sales likely peaked in September, expected to reaccelerate early next year
ยนUsing the closest daily rates available from the Freddie Mac Primary Mortgage Market Survey. Monthly payments calculated with Zillow's Mortgage Calculator using 20% down payment.MethodologyThe Zillow Weekly Market Reports are a weekly overview of the national and local real estate markets. The reports are compiled by Zillow Economic Research and data is aggregated from public sources and listing data on Zillow.com. New for-sale listings data reflect daily counts using a smoothed, seven-day trailing average. Total for-sale listings, newly pending sales, days to pending and median list price data reflect weekly counts using a smoothed, four-week trailing average. National newly pending sales trends are based upon aggregation of the 38 largest metro areas where historic pending listing data coverage is most statistically reliable, and excludes some metros due to upstream data coverage issues. For more information, visit www.zillow.com/research/. Click here to read past editions of Zillow's Weekly Market Report. The post Zillow Weekly Market Report, Data Through Oct. 31 appeared first on Zillow Research. via Zillow Weekly Market Report, Data Through Oct. 31 https://ift.tt/2IBX0tu
0 Comments
Leave a Reply. |
AuthorHi, I'm Parker Stiles, the founder of Barrington Acquisitions. I truly hope you enjoy our real estate tips! ArchivesCategoriesLet's connect!
|