{"id":73624,"date":"2021-12-29T12:45:34","date_gmt":"2021-12-29T20:45:34","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=73624"},"modified":"2022-10-26T13:02:13","modified_gmt":"2022-10-26T20:02:13","slug":"housing-market-update-record-high-home-price","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-record-high-home-price\/","title":{"rendered":"Housing Market Update: Home Prices Rise to New Record High"},"content":{"rendered":"<p><i><span style=\"font-weight: 300;\">A dip in new listings contributed to the ongoing supply shortage as home prices hit another all-time high. <\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">The median home sale price rose 14.6% year over year to a new all-time high of $361,171 during the four-week period ending December 26 as the number of homes for sale fell to a record low. New listings and pending sales both dropped to their lowest levels since January and touring activity was down compared with the same period in 2019 and 2020.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe holiday effect of homebuyers and sellers diverting their time and attention toward travel and celebrations was even more extreme than during the pre-pandemic Christmas week of 2019,\u201d said Redfin Deputy Chief Economist <\/span><a href=\"https:\/\/docs.google.com\/document\/d\/1rhLsijtdVcGEZz_vz3ouKAw8WQttSS5E84FEGnr3uQk\/edit#\"><span style=\"font-weight: 400;\">Taylor Marr<\/span><\/a><span style=\"font-weight: 400;\">. \u201cWe see this slowdown as a temporary consequence of the holidays, and not as an indication that homebuyer demand is backing off. Those who did purchase homes over the holidays paid high prices due to the ongoing supply shortage.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Key housing market takeaways for 400+ U.S. metro areas:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unless otherwise noted, the data in this report covers <\/span><b>the four-week period ending December 26<\/b><span style=\"font-weight: 400;\">. Redfin\u2019s housing market data goes back through 2012. Comparing today\u2019s market with the pre-pandemic fall market of 2019 highlights how hot the market remains, even as most measures are settling into typical seasonal patterns.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Data based on homes listed and\/or sold during the period:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The median home-sale price increased 14.6% year over year to an all-time high of $361,171, up 29.4% from the same period in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The median asking price of newly listed homes increased 12.9% year over year to $345,348, up 28.7% from 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pending home sales were up 4.2% year over year, and up 55.2% compared to the same period in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New listings of homes for sale were down 6.4% from a year earlier, but up 15.6% from 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Active listings (the number of homes listed for sale at any point during the period) fell 26.1% year over year to an all-time low, and were down 44.8% from 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The share of homes that went under contract that had an accepted offer within the first two weeks on the market was 40.3%, above the 35% rate of a year earlier and the 24.5% rate in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">29.6% of homes that went under contract had an accepted offer within one week of hitting the market, up from 25.3% during the same period a year earlier and 15.8% in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Homes that sold were on the market for a median of 26 days, down from 33 days a year earlier and 50 days in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">42.1% of homes sold above list price, up from 33.6% a year earlier and 19.9% in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On average, 2.8% of homes for sale each week had a price drop, up 0.5 percentage points from the same time in 2020 and up 0.3 points from this time in 2019.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, was 100.4%. In other words, the average home sold for 0.4% above its asking price.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Other leading indicators of homebuying activity:<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.mba.org\/2021-press-releases\/december\/mortgage-applications-decrease-in-latest-mba-weekly-survey-x288292\"><span style=\"font-weight: 400;\">Mortgage purchase applications decreased 3% week over week<\/span><\/a><span style=\"font-weight: 400;\"> (seasonally adjusted) during the week ending December 23. For the week ending December 23, <\/span><a href=\"http:\/\/www.freddiemac.com\/pmms\/\"><span style=\"font-weight: 400;\">30-year mortgage rates declined to 3.05%<\/span><\/a><span style=\"font-weight: 400;\">. Mortgage data is from the week ending December 23 because data sources did not update over the holiday week. <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Touring activity through December 26 was 8.7 percentage points behind 2019 and 8.5 points behind 2020 relative to the first week of January <\/span><a href=\"https:\/\/www.showingtime.com\/impact-of-coronavirus\/\"><span style=\"font-weight: 400;\">according to home tour technology company ShowingTime<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Redfin Homebuyer Demand Index was up 17% from a year earlier. The seasonally adjusted Redfin Homebuyer Demand Index is a measure of requests for home tours and other homebuying services from Redfin agents.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Refer to our <\/span><a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\"><span style=\"font-weight: 400;\">metrics definition page<\/span><\/a><span style=\"font-weight: 400;\"> for explanations of all the metrics used in this report.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-73625 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-median-sale-price.png\" alt=\"\" width=\"906\" height=\"674\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-median-sale-price.png 906w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-median-sale-price-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-median-sale-price-768x571.png 768w\" sizes=\"(max-width: 906px) 100vw, 906px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-73626 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-asking-price.png\" alt=\"\" width=\"913\" height=\"683\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-asking-price.png 913w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-asking-price-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-asking-price-768x575.png 768w\" sizes=\"(max-width: 913px) 100vw, 913px\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone wp-image-73627 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-pending-sales.png\" alt=\"\" width=\"905\" height=\"672\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-pending-sales.png 905w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-pending-sales-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-pending-sales-768x570.png 768w\" sizes=\"(max-width: 905px) 100vw, 905px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73628 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-new-listings.png\" alt=\"\" width=\"914\" height=\"675\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-new-listings.png 914w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-new-listings-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-new-listings-768x567.png 768w\" sizes=\"(max-width: 914px) 100vw, 914px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73636 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-active-listings.png\" alt=\"\" width=\"902\" height=\"680\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-active-listings.png 902w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-active-listings-300x226.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-active-listings-768x579.png 768w\" sizes=\"(max-width: 902px) 100vw, 902px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73629 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-two-weeks.png\" alt=\"\" width=\"892\" height=\"664\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-two-weeks.png 892w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-two-weeks-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-two-weeks-768x572.png 768w\" sizes=\"(max-width: 892px) 100vw, 892px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73630 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-one-week.png\" alt=\"\" width=\"898\" height=\"666\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-one-week.png 898w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-one-week-300x222.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-one-week-768x570.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73631 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-days-on-market.png\" alt=\"\" width=\"917\" height=\"677\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-days-on-market.png 917w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-days-on-market-300x221.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-days-on-market-768x567.png 768w\" sizes=\"(max-width: 917px) 100vw, 917px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73632 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sold-above-list.png\" alt=\"\" width=\"891\" height=\"671\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sold-above-list.png 891w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sold-above-list-300x226.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sold-above-list-768x578.png 768w\" sizes=\"(max-width: 891px) 100vw, 891px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73633 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-price-drops.png\" alt=\"\" width=\"895\" height=\"665\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-price-drops.png 895w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-price-drops-300x223.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-price-drops-768x571.png 768w\" sizes=\"(max-width: 895px) 100vw, 895px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73634 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sale-to-list.png\" alt=\"\" width=\"902\" height=\"674\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sale-to-list.png 902w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sale-to-list-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-sale-to-list-768x574.png 768w\" sizes=\"(max-width: 902px) 100vw, 902px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-73635 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-demand-index.png\" alt=\"\" width=\"901\" height=\"674\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-demand-index.png 901w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-demand-index-300x224.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/wr-demand-index-768x575.png 768w\" sizes=\"(max-width: 901px) 100vw, 901px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A dip in new listings contributed to the ongoing supply shortage as home prices hit another all-time high. The median home sale price rose 14.6% year over year to a new all-time high of $361,171 during the four-week period ending December 26 as the number of homes for sale fell to a record low. New [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":73637,"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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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],"dashboard":[],"coauthors":[124],"class_list":["post-73624","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 v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Market Update: Home Prices Rise to New Record High - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/housing-market-update-record-high-home-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Market Update: Home Prices Rise to New Record High\" \/>\n<meta property=\"og:description\" content=\"A dip in new listings contributed to the ongoing supply shortage as home prices hit another all-time high. The median home sale price rose 14.6% year over year to a new all-time high of $361,171 during the four-week period ending December 26 as the number of homes for sale fell to a record low. New [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-record-high-home-price\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-29T20:45:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-26T20:02:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2021\/12\/featured-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"904\" \/>\n\t<meta property=\"og:image:height\" content=\"608\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Dana Anderson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dana Anderson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/\"},\"author\":{\"name\":\"Dana Anderson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/309385292bf91585d2e0a130b0a2566b\"},\"headline\":\"Housing Market Update: Home Prices Rise to New Record High\",\"datePublished\":\"2021-12-29T20:45:34+00:00\",\"dateModified\":\"2022-10-26T20:02:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/\"},\"wordCount\":594,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/featured-image.png\",\"keywords\":[\"Coronavirus\",\"Housing Market Tracker\"],\"articleSection\":[\"Coronavirus Housing Market News\",\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-record-high-home-price\\\/\",\"name\":\"Housing Market Update: Home Prices Rise to New Record High - 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