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 November 2020 and November 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: “U.S. housing supply is dwindling once again as homes continue to fly off the market at record prices, bucking the trend that typically sees market activity slow in the winter months. In November, we witnessed a nearly 15% decrease in net new property listings on the market compared to last year, coupled with a growing number of homes going into contract at elevated prices. For homebuyers across the country, we expect the shortage of homes for sale to extend well into 2022, setting us up for additional price growth in the spring – albeit likely at a lower rate than the record rise we saw throughout 2021."
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 November 2020, there have been 3,214,852 net new listings placed on the market, which is an 6.1% 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: 17.4%
- $200k-$400k: 40.8%
- $400k-$600k: 21.4%
- $600k-$1mm: 13.7%
- >$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: (-19.1%)
- $200k-$400k: (-2.8%)
- $400k-$600k: +29.2%
- $600k-$1mm: +44.1%
- >$1mm: +42.4%
Monthly Net New Listing Volume (Single-Family Detached Homes):
- Monthly new listing volume was down 7.3% compared to November 2020
- In November, there were 199,259 net new listings placed on the market, representing a 14.9% decrease year-over-year
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For the month of November, the percent change in net new listing volume compared to November 2020, broken down by home price:
- $0-$200k: (-34.3%)
- $200k-$400k: (-18.3%)
- $400k-$600k: +6.6%
- $600k-$1mm: +5.6%
- >$1mm: (-10.2%)
Listings Under Contract:
- Over the last 52 weeks, 3,447,686 properties have gone into contract, representing a 1.5% increase relative to the same period in 2020
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Percentage of total contract volume since November 2020, broken down by home price:
- $0-$200k: 17.9%
- $200k-$400k: 40.9%
- $400k-$600k: 20.9%
- $600k-$1mm: 13.4%
- >$1mm: 6.9%
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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: (-23.0%)
- $200k-$400k: (-7.0%)
- $400k-$600k: +22.6%
- $600k-$1mm: +40.3%
- >$1mm: +46.8%
Monthly Contract Volume (Single-Family Detached Homes):
- For the month of November, there were 305,063 listings that went under contract nationwide, which is a 5.3% increase year-over-year
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For the month of November, the percent change in contract volume compared to November 2020, broken down by home price:
- $0-$200k: (-7.7%)
- $200k-$400k: (-2.1%)
- $400k-$600k: +23.4%
- $600k-$1mm: +27.3%
- >$1mm: +10.8%
Median Listing Price Activity (Single-Family Detached Homes):
- For the week ending December 3, 2021, the median price of all single-family listings in the U.S. was $379,339, an 8.1% increase year-over-year
- For the week ending December 3, 2021, the median closed price of single-family listings in the U.S. was $387,988, a14.6% increase year-over-year
- The median price of all single-family listings in the U.S. is down 1.5% 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, 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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