SAN FRANCISCO--(BUSINESS WIRE)--HouseCanary, Inc. (“HouseCanary”), a leading provider of residential real estate data and home valuations, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between February 2020 and February 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: “The U.S. is experiencing a major supply crunch as there are significantly fewer homes available on the market compared to the same time last year. The shrinking inventory, coupled with relatively steady interest from buyers, has led to a significant increase in the median price of listings across the country. While this may be a boon for sellers, many first-time and low-income homebuyers may be at a disadvantage in the current market. Additionally, we anticipate that the recent rise in mortgage rates will likely temper demand and home sales activity in the near-term.”
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 February 2020, there have been 2,843,220 net new listings placed on the market, which is a 3.7% decrease versus the same period in 2019
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Percentage of total net new listings over the last 52 weeks, broken down by home price:
- $0-$200k: 21.9%
- $200k-$400k: 44.3%
- $400k-$600k: 18.0%
- $600k-$1mm: 10.5%
- >$1mm: 5.3%
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Percent change in net new listing activity from February 2020 through the end of February 2021 versus the same period in 2019, broken down by home price:
- $0-$200k: (-23.3%)
- $200k-$400k: (-3.8%)
- $400k-$600k: +11.0%
- $600k-$1mm: +20.1%
- >$1mm: +24.8%
Monthly Net New Listing Volume (Single-Family Detached Homes):
- In February, there were 203,837 net new listings placed on the market, representing a 26.7% decrease compared to February 2020
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Percent change in net new listing activity year-over-year, broken down by home price:
- $0-$200k: (-36.6%)
- $200k-$400k: (-31.2%)
- $400k-$600k: (-18.9%)
- $600k-$1mm: (-9.3%)
- >$1mm: (-4.8%)
Listings Under Contract:
- Over the last 52 weeks, 3,259,578 properties have gone into contract, representing a 4.3% increase relative to the same period in 2019
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Percentage of total contract volume since February 2020, broken down by home price:
- $0-$200k: 22.5%
- $200k-$400k: 44.3%
- $400k-$600k: 17.8%
- $600k-$1mm: 10.3%
- >$1mm: 5.1%
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Percent change in contract volume from February 2020 through the end of February 2021 versus the same period in 2019, broken down by home price:
- $0-$200k: (-15.5%)
- $200k-$400k: +4.0%
- $400k-$600k: +19.3%
- $600k-$1mm: +29.0%
- >$1mm: +35.4%
Monthly Contract Volume (Single-Family Detached Homes):
- For the month of February, there were 288,122 listings that went under contract nationwide, which is a 5.5% decrease year-over-year
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Percent change in contract volume year-over-year, broken down by home price:
- $0-$200k: (-26.1%)
- $200k-$400k: (-11.4%)
- $400k-$600k: +11.0%
- $600k-$1mm: +31.2%
- >$1mm: +53.0%
Median Listing Price Activity (Single-Family Detached Homes):
- The median price of all single-family listings in the U.S. is up 12.8% year-over-year and the median price of closed listings has increased by 20.2%
- Month-over-month, the median price of single-family listings is up 2.1% and the median price of closed listings is up 5.0%
As a nationwide real estate broker, HouseCanary’s broad multiple listing service (“MLS”) participation allows us to evaluate listing data and aggregate the number of new listings as well as the number of new listings going into contract for all single-family detached homes observed in the HouseCanary database. Using this data, HouseCanary continues to track listing volume, new listings, and median list price for 41 states and 50 individual Metropolitan Statistical Areas (“MSAs”).
About HouseCanary:
Founded in 2013, valuation-focused real estate brokerage HouseCanary provides software and services to reshape the real estate marketplace. Financial institutions, investors, lenders, mortgage investors, and consumers turn to HouseCanary for industry-leading valuations, forecasts, and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more. Learn more at www.housecanary.com.
