Below are other key housing market takeaways for more than 400 U.S. metro areas during the 4-week period ending
- The median home sale price increased 15% year over year to
- New listings of homes for sale were down 12% from a year earlier—the largest decline since May.
- Active listings (the number of homes listed for sale at any point during the period) fell 36% from 2020 to a new all-time low.
- 48% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 39% rate during the same period a year ago. This marks a new high for the four-week average of this measure since at least 2012 (as far back as Redfin's data for this measure goes).
- The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased slightly to 99.3%—1.6 percentage points higher than a year earlier.
- For the week ending
January 31, the seasonally adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other services from Redfin agents—was up 72% from the same period a year ago.
- Mortgage purchase applications increased 0.1% week over week (seasonally-adjusted) and were up 16% from a year earlier (unadjusted) during the week ending
January 29. For the week ending January 28, 30-year mortgage rates were unchanged at 2.73%.
"With more and more homes going off the market before buyers have had a chance to tour them, it has never been more important for homebuyers to be well prepared," said Redfin chief economist
To read the full report, please visit: https://www.redfin.com/news/housing-market-update-new-listing-price-hits-record/
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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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Redfin Journalist Services, Angela Cherry, (913) 638-8249, email@example.com