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HouseCanary’s Market Pulse Reveals U.S. Housing Market is Showing Meaningful Signs of Strength

Tight Supply of Homes Actively Listed is Helping Stabilize Prices

Volume of Home Listings Removed and Price Cuts Have Reverted to Pre-Pandemic Levels

Nationwide Contract Volume Remains at or Above Pre-Pandemic Levels for Seventh Consecutive Week

SAN FRANCISCO--(BUSINESS WIRE)--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 June 19, 2020 and the week ending March 13, 2020. The Market Pulse is an ongoing review of proprietary data from the HouseCanary data platform spanning 44 states and the District of Columbia with sufficient property listing and transaction volume.



Jeremy Sicklick, Co-founder and CEO of HouseCanary, commented: “The U.S. real estate market is on much sounder footing than many analysts and homeowners expected at the start of the spring. This week’s data shows that the housing market has continued to bounce back from its lowest levels in mid-April, as contract volume is at or above pre-pandemic levels for the seventh consecutive week. Increased confidence, pent-up demand and historically low interest rates will likely continue to drive contract volume in the weeks to come.”

Additional findings from this week’s Market Pulse report include:

Weekly New Listing Volume (Single-Family Detached Homes):

  • Down 24.5% nationwide compared to the week ending March 13, when most COVID-19 measures were implemented
  • Down 11.4% week over week
  • Up 19.0% from the lowest level during the week ending April 17
  • Decline in new listing activity since the week ending March 13, broken down by home price:
    • $0-$200k: (-24.5%)
    • $200k-$400k: (-26.9%)
    • $400k-$600k: (-24.9%)
    • $600k-$1mm: (-21.3%)
    • >$1mm: (-11.6%)

Net New Listings:

  • Since the week ending March 13, there have been 803,742 net new listings placed on the market
  • For the week ending June 19, there were 53,422 net new listings placed on the market
  • Net new listings since March 13, broken down by home price:
    • $0-$200k: +23.3%
    • $200k-$400k: +45.6%
    • $400k-$600k: +17.2%
    • $600k-$1mm: +9.5%
    • >$1mm: +4.4%

Weekly Volume of Listings Removed (Single-Family Detached Homes):

  • Down 32.9% nationwide since the week ending March 13

Weekly Volume of Listing Price Cuts (Single-Family Detached Homes):

  • Down 18.5% nationwide since the week ending March 13

Weekly Contract Volume (Single-Family Detached Homes):

  • Up 14.9% nationwide compared to the week ending March 13, when most COVID-19 measures were implemented
  • Up 72.9% from the lowest level during the week ending April 10
  • Percent growth in weekly contract volume since the week ending March 13, broken down by home price:
    • $0-$200k: +7.6%
    • $200k-$400k: +12.1%
    • $400k-$600k: +21.9%
    • $600k-$1mm: +27.4%
    • >$1mm: +40.5%

Listings Under Contract:

  • Since the week ending March 13, 934,424 properties have gone into contract across 45 states
  • For the week ending June 19, there were 73,096 listings that went under contract nationwide
  • Total contract volume since the week ending March 13, broken down by home price:
    • $0-$200k: +26.1%
    • $200k-$400k: +46.0%
    • $400k-$600k: +16.2%
    • $600k-$1mm: +8.2%
    • >$1mm: +3.5%

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 45 states and 50 individual Metropolitan Statistical Areas (“MSAs”).

About HouseCanary:

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.


Contacts

Denise Dunckel
press@housecanary.com