{"id":71921,"date":"2021-01-15T05:00:52","date_gmt":"2021-01-15T13:00:52","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=71921"},"modified":"2022-10-26T13:02:55","modified_gmt":"2022-10-26T20:02:55","slug":"housing-market-update-new-listings-down-3pct","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-new-listings-down-3pct\/","title":{"rendered":"Housing Market Update: First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy to Rival 2020"},"content":{"rendered":"<h2 style=\"font-style:italic;\">New listings fell 3%, the first annual decline since July even as pending sales were up 35%.<\/h2>\n<h3>Key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending January 10:<\/h3>\n<ul>\n<li>The median home sale price increased 14% year over year to $320,025.<\/li>\n<li>Pending home sales were up 35% year over year.<\/li>\n<li>New listings of homes for sale were down 3% from a year earlier\u2014the first decline since July.<\/li>\n<li>Active listings (the number of homes listed for sale at any point during the period) fell 33% from 2020 to a new all-time low.<\/li>\n<li>38% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 27% rate during the same period a year ago.<\/li>\n<li>The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, declined slightly to 99.3%\u2014still 1.5 percentage points higher than a year earlier.<\/li>\n<li>For the week ending January 10, the seasonally adjusted Redfin Homebuyer Demand Index\u2014a measure of requests for home tours and other services from Redfin agents\u2014was up 40% from pre-pandemic levels in January and February of 2020.<\/li>\n<li><a href=\"https:\/\/www.mba.org\/2021-press-releases\/january\/mortgage-applications-increase-in-latest-mba-weekly-survey\">Mortgage purchase applications increased 8% week over week<\/a> (seasonally-adjusted) and were up 10% from a year earlier (unadjusted) during the week ending January 8. For the week ending January 14, <a href=\"http:\/\/www.freddiemac.com\/pmms\/\">30-year mortgage rates edged up to 2.79%<\/a>.<\/li>\n<\/ul>\n<p>\u201cBuyers are likely disappointed by the lack of new homes listed in the past month,\u201d said <a href=\"https:\/\/www.redfin.com\/news\/author\/darylfairweather\/\">Redfin chief economist Daryl Fairweather<\/a>. \u201cBut that\u2019s not stopping them from making offers on what is on the market, which is sending pending sales up. It\u2019s looking like 2021 will see a housing market frenzy that will rival what we experienced in 2020.\u201d<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_median-sale-price.png\" alt=\"Home Sale Prices Up 14% From 2020\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71927\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_median-sale-price.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_median-sale-price-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_median-sale-price-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_median-sale-price-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_pending-sales.png\" alt=\"Pending Sales Up 35% From a Year Earlier\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71924\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_pending-sales.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_pending-sales-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_pending-sales-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_pending-sales-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_new-listings.png\" alt=\"New Listings of Homes Down 3% From Last Year\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71922\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_new-listings.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_new-listings-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_new-listings-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_new-listings-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_active-listings.png\" alt=\"Active Listings of Homes For Sale Down 33% From 2020\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71926\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_active-listings.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_active-listings-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_active-listings-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_active-listings-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_off-market-in-2-weeks.png\" alt=\"38% of Pending Sales Under Contract Within Two Weeks\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71923\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_off-market-in-2-weeks.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_off-market-in-2-weeks-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_off-market-in-2-weeks-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_off-market-in-2-weeks-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_sale-to-list.png\" alt=\"Sale-to-List Price Ratio Up 1.5 Points From 2020\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-71925\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_sale-to-list.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_sale-to-list-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_sale-to-list-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/01\/2021-01-10_sale-to-list-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housing Market Update: New Listings Fell 3%, Home Prices Up 14%, Pending Sales Rise 35%<\/p>\n","protected":false},"author":13505,"featured_media":71922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[60,8,615],"tags":[9,32],"coauthors":[62],"class_list":["post-71921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coronavirus-housing-market-news","category-housing-market-news","category-weekly-market-update","tag-coronavirus","tag-housing-market-tracker"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Market Update: First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy<\/title>\n<meta name=\"description\" content=\"Housing Market Update: New Listings Fell 3%, Home Prices Up 14%, Pending Sales Rise 35%\" \/>\n<meta name=\"robots\" content=\"index, follow, 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