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 March 2021 and March 2022. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary.
Jeremy Sicklick, Co-Founder and Chief Executive Officer of HouseCanary, commented:
"The supply shortage has only deepened after entering the active spring buying season – with few silver linings ahead for consumers. Since March 2021, the market has experienced a nearly 17% decrease in the number of net new listings and a 16% increase in the median closed price of single-family listings. While properties in the $0-$200K and $200K-$400K ranges have seen positive year-over-year increases in net new inventory, they still underperform when looking at net new listing volumes and contract volumes, demonstrating that affordable homes remain out of reach for many families. When comparing historical data trends, we see housing market behavior that has been anything but normal. Prices are at record highs and continue to rise at a breakneck pace due to historically slim inventory, buyers' fears of even higher prices ahead, record low interest rates and pandemic-related stimulus programs and supply chain disruptions."
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 March 2021, there have been 3,184,484 net new listings placed on the market, which is a 2.5% increase versus the 52 weeks prior
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Percentage of total net new listings over the last 52 weeks, broken down by home price:
- $0-$200k: 16.4%
- $200k-$400k: 39.5%
- $400k-$600k: 22.4%
- $600k-$1mm: 14.6%
- >$1mm: 7.1%
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Percent change in net new listing activity over the last 52 weeks versus the same period in 2021, broken down by home price:
- $0-$200k: (-19.2%)
- $200k-$400k: (-7.4%)
- $400k-$600k: +23.6%
- $600k-$1mm: +34.0%
- >$1mm: +26.6%
Monthly Net New Listing Volume (Single-Family Detached Homes):
- Monthly new listing volume was down 9.3% compared to March 2021
- In March, there were 281,271 net new listings placed on the market, representing a 16.9% decrease year-over-year
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For the month of March, the percent change in net new listing volume compared to March 2021, broken down by home price:
- $0-$200k: (-23.8%)
- $200k-$400k: (-27.5%)
- $400k-$600k: (-7.8%)
- $600k-$1mm: +0.5%
- >$1mm: (-3.5%)
Listings Under Contract:
- Over the last 52 weeks, 3,397,710 properties have gone into contract, representing a 3.1% decrease relative to the 52 weeks prior
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Percentage of total contract volume since March 2021, broken down by home price:
- $0-$200k: 16.9%
- $200k-$400k: 39.8%
- $400k-$600k: 22.0%
- $600k-$1mm: 14.2%
- >$1mm: 7.1%
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Percent change in contract volume over the last 52 weeks versus the same period in 2021, broken down by home price:
- $0-$200k: (-23.0%)
- $200k-$400k: (-12.0%)
- $400k-$600k: +15.8%
- $600k-$1mm: +26.3%
- >$1mm: +23.2%
Monthly Contract Volume (Single-Family Detached Homes):
- For the month of March, there were 336,079 listings that went under contract nationwide, which is a 5.0% decrease year-over-year
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For the month of March, the percent change in contract volume compared to March 2021, broken down by home price:
- $0-$200k: (-14.3%)
- $200k-$400k: (-13.8%)
- $400k-$600k: +8.2%
- $600k-$1mm: +10.6%
- >$1mm: +2.1%
Median Listing Price Activity (Single-Family Detached Homes):
- For the week ending April 1, 2022, the median price of all single-family listings in the U.S. was $416,947, a 10.8% increase year-over-year
- For the week ending April 1, 2022, the median closed price of single-family listings in the U.S. was $415,454, a 16.0% increase year-over-year
- The median price of all single-family listings in the U.S. is up 2.4% month-over-month and the median price of closed listings has increased by 5.5% month-over-month
About HouseCanary
Founded in 2013, national real estate brokerage HouseCanary empowers consumers, financial institutions, investors, and mortgage lenders, 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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