New Data From HouseCanary Reveals COVID-19's Resurgence is Creating an Attractive "Seller's Market" for Homeowners
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 the week ending July 24, 2020 and the week ending March 13, 2020. The Market Pulse (News - Alert) is an ongoing review of proprietary data and insights from HouseCanary's nationwide platform.
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HouseCanary Market Pulse Report (Graphic: Business Wire)
Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary, commented: "The resurgence of COVID-19 has solidified a bona fide seller's market across more than half of the country. While pandemic uncertainty appears to be sidelining a growing number of prospective home sellers, pent-up demand on the buy-side remains quite strong due to attractive borrowing terms and a surge in first-time homebuyers. Several large states, ranging from California to Florida, have seen their median home price listings rise rather significantly since mid-March. The question that remains is whether this market environment will be able to persist beyond. Our data continues to suggest the probability of a V-shaped housing market recovery remains dim given recessionary concerns, election year uncertainty and the overall decline in listing activity."
Weekly New Listing Volume (Single-Family Detached Homes):
Total Net New Listings:
Median Listing Price Activity (Single-Family Detached Homes):
Weekly Contract Volume (Single-Family Detached Homes):
Total Listings Under Contract:
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").
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.