Our research team releases regular monthly housing trends reports. These reports break down inventory metrics like the number of active listings and the pace of the market. In light of the developing COVID-19 situation affecting the industry, we want to give readers more timely weekly updates. You can look forward to a Weekly Housing Trends View near the end of each week along with weekly coverage from our Housing Market Recovery Index and a weekly video update from our economists. Here’s what the housing market looked like last week.
Weekly Housing Trends Key Findings
- New listings were down 15 percent. The gradual improvement in the number of homes for sale continues, but it’s not happening fast enough for hungry buyers. The next few weeks will be critical to see if more sellers jump back into the market and stop inventory from eroding further.
- Total inventory was down 33 percent. The improving new listings trend is still not enough to offset buyer demand as more home buyers aim to take advantage of record-low mortgage rates.
- Median listing prices are now growing at 9.1 percent over last year, faster than the pre-COVID pace and the fastest pace since January 2018.
- Time on market is now 1 day faster than last year as buyers out-number sellers and confidence is growing for both and the peak of the season extends into the summer.
Data Summary
| Week ending July 18 | Week ending July 11 | Week ending July 4 | First Two Weeks March |
| Total Listings | -33% YOY | -32% YOY | -31% YOY | -16% YOY |
| Time on Market | 1 day faster YOY | 1 day slower YOY | 3 days slower YOY | 4 days faster YOY |
| Median Listing Prices | +9.1% YOY | +7.9% YOY | +6.2% YOY | +4.5% YOY |
| New Listings | -15% YOY | -19% YOY | -4% YOY | +5% YOY |
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