Press releases
New Listings Took a Step Back Last Week, But Sales Activity Continued Steady Climb
This Zillow Weekly Market Report includes housing market data as of the week ending June 20
Jun 26, 2020
SEATTLE, June 26, 2020 /PRNewswire/ -- For-sale inventory took a step back last week as the rate of new home listings slowed, according to Zillow's Weekly Market Reporti. Despite limited inventory, newly pending sales rose once again as buyer activity continues to be strong, and those sales are typically happening faster than they have since 2018.
Newly pending sales are up again, and homes are selling faster than they have in more than two years
- Newly pending sales continue to grow, up 2.1% week over week and 13.7% month over month.
- Among the 50 largest U.S. metros, newly pending sales rose the most from the previous week in Buffalo (+26.3%), San Jose (+19%) and Nashville (+14.4%).
- U.S. homes are selling at their fastest pace in more than two years. Homes sold during the week ending June 20 typically stayed on the market for 21 days.
Inventory took another small hit last week
- New for-sale listings fell 1.2% week over week, though they remain up 3% from a month ago.
- Total inventory was down 0.6% from the previous week, and is now 18.8% lower than at the same time last year.
List prices continue to climb
- The median list price in the U.S. grew 0.7% from the week prior to $335,160, and now sits 3.2% higher than a year ago.
- List prices are higher than a year ago in 45 of the 50 largest U.S. markets, up as much as 15.8% year over year in Cincinnati.
Metropolitan Area* | Newly Pending Sales - MoM | Newly Pending Sales - WoW | New For-Sale Listings - YoY | New For-Sale Listings - WoW | Total For-Sale Listings - YoY | Median List Price - YoY |
United States | 13.7% | 2.1% | -20.8% | -1.2% | -18.8% | 3.2% |
New York, NY | 57.2% | 8.8% | -10.7% | -0.7% | -27.0% | 2.5% |
Los Angeles-Long Beach-Anaheim, CA | 35.2% | 4.2% | -22.4% | 0.7% | -25.3% | 7.3% |
Chicago, IL | 29.5% | 8.1% | -17.9% | 1.0% | -21.0% | -2.0% |
Dallas-Fort Worth, TX | 4.4% | -3.4% | -21.3% | 1.6% | -10.3% | -1.7% |
Philadelphia, PA | 37.9% | -4.8% | -12.6% | 5.9% | -33.6% | 11.6% |
Houston, TX | 5.1% | 1.2% | -17.8% | 3.2% | -8.9% | 0.2% |
Washington, DC | 8.9% | 3.8% | -25.4% | -4.3% | -31.2% | 8.9% |
Miami-Fort Lauderdale, FL | 26.5% | 4.5% | -5.2% | -3.0% | -9.7% | -0.4% |
Atlanta, GA | -1.7% | -6.0% | -22.0% | 1.4% | -2.9% | -1.7% |
Boston, MA | 26.2% | -3.0% | -17.1% | 8.2% | -25.6% | 6.1% |
San Francisco, CA | 26.0% | 9.4% | -8.9% | -1.8% | -12.1% | 7.6% |
Detroit, MI | 5.3% | 5.5% | -13.4% | 5.5% | -17.6% | 0.6% |
Riverside, CA | 15.3% | -3.3% | -20.6% | 4.9% | -29.1% | 3.8% |
Phoenix, AZ | 12.1% | 2.4% | -20.5% | -6.0% | -22.2% | 6.7% |
Seattle, WA | 6.5% | -4.5% | -35.9% | -10.9% | -37.4% | 4.1% |
Minneapolis-St Paul, MN | 16.2% | 8.8% | -14.5% | 0.9% | -14.9% | 3.0% |
San Diego, CA | N/A | N/A | -10.5% | 8.2% | -29.6% | 5.1% |
St. Louis, MO | 2.6% | 1.8% | -29.5% | -2.3% | -24.5% | 6.4% |
Tampa, FL | N/A | N/A | -20.2% | 0.0% | -16.9% | 0.3% |
Baltimore, MD | 20.3% | -0.2% | -16.0% | 8.1% | -35.8% | 4.4% |
Denver, CO | 4.7% | 3.1% | -9.0% | -3.0% | -14.0% | 4.5% |
Pittsburgh, PA | N/A | N/A | -7.1% | -3.9% | -19.4% | 9.9% |
Portland, OR | 5.3% | -4.0% | -39.8% | -8.0% | -20.1% | 0.7% |
Charlotte, NC | -3.9% | -0.8% | -28.4% | 7.9% | -24.0% | 2.9% |
Sacramento, CA | 26.4% | -1.7% | -13.1% | 7.8% | -17.8% | 2.3% |
San Antonio, TX | N/A | N/A | -23.7% | 7.6% | -3.8% | 1.1% |
Orlando, FL | N/A | N/A | -21.6% | 8.1% | -7.8% | -1.0% |
Cincinnati, OH | -7.7% | -1.0% | -22.1% | 10.8% | -27.7% | 15.8% |
Cleveland, OH | 4.6% | 0.4% | -15.6% | -2.6% | -35.3% | 8.4% |
Kansas City, MO | -7.2% | -8.8% | -14.6% | 1.4% | -28.6% | 9.7% |
Las Vegas, NV | 30.4% | 9.6% | -22.3% | 4.7% | -18.7% | 1.8% |
Columbus, OH | 7.9% | -3.7% | -25.4% | -8.5% | -25.8% | 6.1% |
Indianapolis, IN | 2.4% | 3.0% | -28.7% | 5.0% | -24.4% | 8.3% |
San Jose, CA | 8.5% | 19.0% | -11.3% | 5.0% | -24.5% | 2.6% |
Austin, TX | 12.5% | 5.7% | -24.9% | 6.5% | -9.0% | 5.8% |
Virginia Beach, VA | N/A | N/A | -25.4% | -3.7% | -30.4% | 8.4% |
Nashville, TN | 14.3% | 14.4% | -18.4% | 7.3% | -1.7% | 0.9% |
Providence, RI | 17.7% | 0.5% | -28.0% | 1.2% | -30.2% | 7.1% |
Milwaukee, WI | N/A | N/A | -17.6% | 10.9% | -15.2% | 7.8% |
Jacksonville, FL | -6.2% | 4.1% | -16.0% | -15.3% | -12.3% | 0.2% |
Memphis, TN | N/A | N/A | -28.5% | 0.6% | -27.9% | 8.5% |
Oklahoma City, OK | N/A | N/A | -16.0% | 6.2% | -17.4% | 8.5% |
Louisville, KY | 3.4% | 1.4% | -22.5% | -8.2% | -28.7% | 3.1% |
Hartford, CT | 18.7% | -1.5% | -3.1% | 2.6% | -35.7% | 8.0% |
Richmond, VA | N/A | N/A | -28.0% | -13.4% | -19.2% | 7.9% |
New Orleans, LA | 8.9% | 8.2% | -31.2% | 10.1% | -22.5% | 4.5% |
Buffalo, NY | 83.8% | 26.3% | -16.6% | 2.0% | -24.7% | 6.7% |
Raleigh, NC | -8.1% | 5.1% | -14.7% | 5.7% | -17.0% | 1.9% |
Birmingham, AL | -2.2% | -3.5% | -17.5% | 1.4% | -21.1% | 5.1% |
Salt Lake City, UT | 4.2% | -17.9% | -30.2% | -0.5% | -26.0% | 4.3% |
*Table organized by market size | ||||||
About Zillow
Zillow, the top real estate website in the U.S., is building an on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow's businesses to find and get into their next home with speed, certainty and ease.
In addition to for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.
Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they've come to expect from real estate's most trusted brand.
Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.
Zillow and Zillow Offers are registered trademarks of Zillow, Inc.
i The Zillow Weekly Market Reports are a weekly overview of the national and local real estate markets. The reports are compiled by Zillow Economic Research and data is aggregated from public sources and listing data on Zillow.com. Newly pending sales and new for-sale listings data reflect daily counts using a smoothed, seven-day trailing average. Total for-sale listings, days to pending and median list price data reflect weekly counts using a smoothed, four-week trailing average. For more information, visit www.zillow.com/research/.
SOURCE Zillow
For further information: Alex Lacter, Zillow, press@zillow.com