SAN FRANCISCO--(BUSINESS WIRE)--HouseCanary, Inc. (“HouseCanary”), a national brokerage known for its real estate valuation accuracy, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between October 2020 and October 2021. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.
Jeremy Sicklick, Co-Founder and Chief Executive Officer of HouseCanary, commented: “As we head into the holiday season, it seems the supply trends we have seen over the past few months are beginning to change course. Despite initial signs that the nationwide supply crunch was beginning to alleviate, October saw net new inventory levels drop once again across every price segment to the lowest number we've seen almost all year. This negative movement will likely extend the length of the ongoing shortage of homes well into 2022, which could lead to more of the kinds of rapid price growth in the spring that characterized 2021. Currently, we are seeing that median listing and closed prices are still hovering near record highs, although we expect them to cool slightly as winter approaches and there's less of an appetite for home purchases during the winter months."
Select findings from this month’s Market Pulse are below. Be sure to review the Market Pulse in full for extensive state-level data.
Total Net New Listings:
- Since October 2020, there have been 3,203,149 net new listings placed on the market, which is an 8.0% increase versus the same period in 2020
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Percentage of total net new listings over the last 52 weeks, broken down by home price:
- $0-$200k: 17.6%
- $200k-$400k: 41.1%
- $400k-$600k: 21.1%
- $600k-$1mm: 13.5%
- >$1mm: 6.7%
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Percent change in net new listing activity over the last 52 weeks versus the same period in 2020, broken down by home price:
- $0-$200k: (-18.1%)
- $200k-$400k: (-0.8%)
- $400k-$600k: +31.2%
- $600k-$1mm: +48.3%
- >$1mm: +48.9%
Monthly Net New Listing Volume (Single-Family Detached Homes):
- Monthly new listing volume was down 8.5% compared to October 2020
- In October, there were 265,318 net new listings placed on the market, representing a 15.9% decrease year-over-year
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For the month of October, the percent change in net new listing volume compared to October 2020, broken down by home price:
- $0-$200k: (-31.0%)
- $200k-$400k: (-20.0%)
- $400k-$600k: +0.9%
- $600k-$1mm: +1.1%
- >$1mm: (-13.4%)
Listings Under Contract:
- Over the last 52 weeks, 3,429,839 properties have gone into contract, representing a 2.3% increase relative to the same period in 2020
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Percentage of total contract volume since October 2020, broken down by home price:
- $0-$200k: 18.0%
- $200k-$400k: 41.3%
- $400k-$600k: 20.7%
- $600k-$1mm: 13.2%
- >$1mm: 6.8%
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Percent change in contract volume over the last 52 weeks versus the same period in 2020, broken down by home price:
- $0-$200k: (-24.3%)
- $200k-$400k: (-5.5%)
- $400k-$600k: +23.5%
- $600k-$1mm: +42.3%
- >$1mm: +51.8%
Monthly Contract Volume (Single-Family Detached Homes):
- For the month of October, there were 354,132 listings that went under contract nationwide, which is a 1.3% increase year-over-year
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For the month of October, the percent change in contract volume compared to October 2020, broken down by home price:
- $0-$200k: (-11.7%)
- $200k-$400k: (-4.7%)
- $400k-$600k: +17.6%
- $600k-$1mm: +20.0%
- >$1mm: +3.8%
Median Listing Price Activity (Single-Family Detached Homes):
- For the week ending October 29, 2021, the median price of all single-family listings in the U.S. was $384,136, a 7.6% increase year-over-year
- For the week ending October 29, 2021, the median closed price of single-family listings in the U.S. was $386,201, a13.9% increase year-over-year
- The median price of all single-family listings in the U.S. is down 0.8% month-over-month and the median price of closed listings has increased by 2.0% month-over-month
About HouseCanary
Founded in 2013, valuation-focused real estate brokerage HouseCanary empowers consumers, financial institutions, investors, lenders, and mortgage investors, with industry-leading valuations, forecasts, and transaction support. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more. Learn more at www.housecanary.com.
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