Below are other key housing market takeaways for 434 U.S. metro areas during the 4-week period ending
- Pending home sales climbed 28% year over year, the largest increase since the four weeks ending
August 2, 2015.
- New listings of homes for sale were up 9% from a year ago—the largest increase since the four weeks ending
December 20, 2015.
- Active listings (the number of homes listed for sale at any point during the period) fell 28% from 2019 to a new all-time low. The year-over-year decline has been about the same for the past couple of months.
- 46.4% of homes that went under contract had an accepted offer within the first two weeks on the market, the highest level since at least 2012 (as far back as our data on this measure goes).
- The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to 99.3%—an all-time high and a full percentage point higher than a year earlier.
- For the week ending
September 6, the seasonally adjusted Redfin Homebuyer Demand Index was up 21% from pre-pandemic levels in January and February.
"Home price growth this high is making the housing market especially difficult for first-time homebuyers right now," said Redfin chief economist
"I've been helping more buyers from out of town lately, mostly from the
Redfin agents in areas affected by wildfires report that the smoke is slowing down some home-buying activity.
"Home touring is slowing down in
To view the full report, including charts and methodology, please visit: https://www.redfin.com/blog/home-prices-up-13-percent/
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For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
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