roomvu logo
PricingFree Trial

Red-hot US housing market begins to cool

Location
Seattle, Portland, San Francisco
Publish Date
2021/09/28

Pending sales across 400 metro areas ↑ 6% YoY in the month ending Sept. 5, the 69,563 homes that went into contract ↓ 9% from May 2021. The decrease in pending sales is just one indicator of a softening in the competitiveness of the housing market. The number of homes with an accepted offer within two weeks on the market ↓ 9 pp from March, and the share of homes sold above asking ↓ to 50.1%. Overall, new home listings are ↓ 7% YoY, and total active home listings are ↓ 23% from 2020, Redfin reported. The median home sale price ↑ 14% to $358,250, with the median asking price of newly listed homes, is $353,500. On avg ~5% of homes for sale during the month that ended Sept. 5 had a price drop; the highest level of price drop/week since October 2019. The median number of DOM ↑ to 19 days from an all-time low of 15 days in late June and early July 2021.

Market Update

Sign up

Los Angeles, San Diego, Central Coast, New York, New Jersey, North Carolina, Colorado, Miami, Tampa, Orlando, Charlotte, Raleigh, USA, California, Sacramento, Texas, Austin, Houston, Dallas, San Antonio, Illinois, Chicago, Atlanta, Florida, Nevada, Washington D.C., Minnesota, Minneapolis, Ohio, Pennsylvania, Arizona, Philadelphia, Georgia