Currently Reading

6 Charts That Show Where the Housing Market Stands Now

Advertisement
Sales

6 Charts That Show Where the Housing Market Stands Now


April 10, 2020
aerial view of homes in a neighborhood with sun rising over hill
By ungvar

It’s almost a no-brainer that fewer Americans are applying for mortgages or putting their home on the market in this economic landscape. But some of Redfin’s other findings may surprise builders. For instance, homes are spending lessnot moretime on the market than last year, and sellers who still have had their homes on the market are not slashing prices quite yet. It is unclear what the long-term effects of COVID-19 will be on the industry, but these six charts by Redfin show how the housing market is faring now.

As the coronavirus continues to impact the U.S. economy and way of life, homes are spending less time on the market and touring activity is slowing, yet so far, sellers aren’t slashing prices, according to recent research from Redfin.

Here are six charts that illustrate the latest developments in the housing market as COVID-19 continues to upend residential real estate.

We recently reported that sellers putting new homes on the market were listing them for less. However, sellers who already have homes on the market are not yet cutting prices. There were price reductions on around 3% of active listings during the week ending April 3, about the same level we saw during the same period one year ago, indicating that many sellers are still holding their ground—for now.

Read More

 

Related Stories

Sales

Zillow’s Year-End Sales and Home Value Forecast

Zillow is forecasting stronger growth in home sales through the end of the year while the rate of home value appreciation will be slower.

Sales

Home Appraisals Are Messing With Sales

"I don’t remember any time where the frequency of buyers being willing to pay so much more than the market data was this high."

Sales

Home Prices Probably Won’t Fall, But the Frenzy is Over

“It’s not like the market is soft. It’s just moving away from that extreme frenzy.”

Advertisement
Advertisement

More in Category




Advertisement
Advertisement

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.