Lingering Supply-Demand Imbalance Continues to Drive Prices Even Higher, Latest HouseCanary Data Shows
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 May 2020 and May 2021. 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 (Graphic: Business Wire)
Jeremy Sicklick, Co-founder and Chief Executive Officer of HouseCanary, commented: "Current market dynamics continue to be dictated by strong homebuyer demand and a shortage of supply. The inventory deficit that developed in the wake of the COVID-19 pandemic continues to drive single-family home prices higher, leading to record levels of price growth across the United States. As a result of these astronomical home prices and relatively stagnant mortgage rates, the number of people applying for mortgages has slowed recently. While there are positive signs that more sellers have started emerging in the market, we expect current trends to continue into the summer months until the amount of supply coming onto the market outpaces the number of listings going into contract."
Total Net New Listings:
Monthly Net New Listing Volume (Single-Family Detached Homes):
Listings Under Contract:
Monthly Contract Volume (Single-Family Detached Homes):
Median Listing Price Activity (Single-Family Detached Homes):
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.
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