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
- Median listing prices are now growing at 4.6 percent over last year, just above the pace seen pre-COVID.
- New listings are still down 20 percent. More sellers are returning to the market compared to the early COVID period, but fewer than a week ago, and the number of new listings remains below last year levels. New listings typically peak over the next month (mid-June to mid-July). Given the importance of new home listings to sales, to see home sales bounce back, we’ll need to see a later seasonal peak this year.
- Time on market remained 16 days slower than last year as it takes longer to find a buyer and complete a sale in the current markets. Time on market could speed up if buyers continue to outnumber sellers.
- Total inventory was down 27 percent. Signs are pointing to rising home buyer interest, and steeper declines in inventory are on the horizon unless more sellers list homes for sale.
Data Summary
| Week ending June 13 | Week ending June 6 | Week ending May 30 | First Two Weeks March |
| Total Listings | -27% YOY | -25% YOY | -23% YOY | -16% YOY |
| Time on Market | 16 days slower YOY | 16 days slower YOY | 17 days slower YOY | -4 days faster YOY |
| Median Listing Prices | +4.6% YOY | +4.3% YOY | +3.1% YOY | +4.5% YOY |
| New Listings | -20% YOY | -21% YOY | -23% YOY |
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