Currently Reading

Housing Market Briefly Pauses, Remains Fierce

Market Data + Trends

Housing Market Briefly Pauses, Remains Fierce

November 16, 2020
Home for sale
Photo: steheap

Two recent events caused Americans to pause on selling and buying, but the market overall remains fiery. Both the presidential election and new wave of COVID-19 resulted in buyers and sellers to avert their attention elsewhere. The number of new listings for existing homes dropped last week, decreasing by 12% annually for the week ending Nov. 7. The week before, the number of new listings dropped 9% already. According to, the lack of new listings affected the number of home sales, which also experienced a significant dip last week.

Due in part to the lack of new listings hitting the market last week, the total number of homes for sale recorded a dip too, with total inventory across the U.S. now 39% below last year’s levels.

The speed in which homes are changing hands as well as listing price changes held steady last week with no drastic gains, but both metrics continue “to signal a tight market,” the report said.

With buyers competing for limited inventory, the homes that are available are selling fast. Last week, the average time a property spent on the market was 13 days faster than a year ago, marking the seventh consecutive week that homes are selling 13 or 14 days faster than they did in 2019.

Read More

Related Stories

Market Data + Trends

Real Estate Values Spike

The value of owner-occupied real estate in the United States posted its largest quarterly increase on record.

Market Data + Trends

The State of Employment in August

Construction sector jobs in the U.S. increased by 193,000 year-to-date, which is a 2.7% increase from August 2020.

Market Data + Trends

Multi and Single-Family are Neck and Neck

An analysis by National Association of Home Builders shows that single-family construction activity recently closed that gap with multifamily.


More in Category


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
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.