{"id":73882,"date":"2022-02-18T05:00:11","date_gmt":"2022-02-18T13:00:11","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=73882"},"modified":"2022-10-26T13:02:08","modified_gmt":"2022-10-26T20:02:08","slug":"housing-market-update-fastest-most-expensive-ever","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/","title":{"rendered":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record"},"content":{"rendered":"<h2 style=\"font-style:italic;\">A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.<\/h2>\n<p>Homes sold faster than ever during the four weeks ending February 13, as a record 57% of homes that went under contract did so within two weeks of being listed. People buying homes now are paying more than ever before, too\u2014a median $1,997 per month\u2014as asking prices soared 16% year over year to a new high and mortgage rates shot up to their highest level since May 2019.<\/p>\n<p>The pace and cost of homebuying are soaring largely because there is so little to buy. New listings fell 8% year over year, sending overall supply to a new low and putting a damper on pending sales, which fell 2.7%. \u201cThe acute shortage of new listings of homes for sale is the biggest problem the housing market faces right now,\u201d said Redfin Deputy Chief Economist <a href=\"https:\/\/www.redfin.com\/news\/author\/taylormarr\/\">Taylor Marr<\/a>. \u201cIf you think of the housing market like a bathtub, water (supply of homes for sale) is flowing down the drain (buyers sucking up supply) faster than new water (new listings) is coming in through the faucet. Rising mortgage rates may slow the drain down a bit (cool demand) as record-high monthly payments take a toll on buyers\u2019 budgets. Bottom line: without a flood of new listings we will be sitting in a very shallow bath for a while.\u201d<\/p>\n<h3>Key housing market takeaways for 400+ U.S. metro areas:<\/h3>\n<p>Unless otherwise noted, the data in this report covers the <strong>four-week period ending February 13<\/strong>. Redfin\u2019s housing market data goes back through 2012.<\/p>\n<h4>Data based on homes listed and\/or sold during the period:<\/h4>\n<ul>\n<li>The median home sale price was up 15% year over year to $354,762. This was up 30% from the same time in 2020.<\/li>\n<li>The median asking price of newly listed homes increased 16% year over year to an all-time high of $381,000. This was up 26% from the same time in 2020.<\/li>\n<li>The monthly mortgage payment on the median asking price rose to an all-time high of $1,997. This was up 27% from a year earlier when mortgage rates were 2.73%, and was up 31% from the same period in 2020 when rates were 3.47%.<\/li>\n<li>Pending home sales were down 2.7% year over year, but were up 35% from the same period in 2020, just prior to the start of the pandemic.<\/li>\n<li>New listings of homes for sale were down 8% from a year earlier. Compared to 2020, new listings were down 12%.<\/li>\n<li>Active listings (the number of homes listed for sale at any point during the period) fell 27% year over year, dropping to an all-time low of 447,000. Listings were down 49% from the same period in 2020.<\/li>\n<li>57% of homes that went under contract had an accepted offer within the first two weeks on the market, an all-time high. This was up from the 51% rate of a year earlier and 43% in 2020.<\/li>\n<li>44% of homes that went under contract had an accepted offer within one week of hitting the market, an all-time high. This was up from 38% during the same period a year earlier and 29% in 2020.<\/li>\n<li>Homes that sold were on the market for a median of 29 days, down from 38 days a year earlier and 60 days in 2020.<\/li>\n<li>41% of homes sold above list price, up from 33% a year earlier and 19% in 2020.<\/li>\n<li>On average, 2.7% of homes for sale each week had a price drop, up 0.4 percentage points from the same time in 2021, but down 0.6 percentage points from 2020.<\/li>\n<li>The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to 100.3%. In other words, the average home sold for 0.3% above its asking price.<\/li>\n<\/ul>\n<h4>Other leading indicators of homebuying activity:<\/h4>\n<ul>\n<li><a href=\"https:\/\/www.mba.org\/2022-press-releases\/february\/mortgage-applications-decrease-in-latest-mba-weekly-survey-x288923\">Mortgage purchase applications decreased 1% week over week<\/a> (seasonally adjusted) during the week ending February 11. For the week ending February 17, <a href=\"http:\/\/www.freddiemac.com\/pmms\/\">30-year mortgage rates rose to 3.92%<\/a>, the highest level since May 2019.<\/li>\n<li>Touring activity through February 13 was 4 percentage points ahead of 2021 and 4 points behind 2020 relative to the first week of January <a href=\"https:\/\/www.showingtime.com\/impact-of-coronavirus\/\">according to home tour technology company ShowingTime<\/a>.<\/li>\n<li>The Redfin Homebuyer Demand Index fell 6% during the week ending February 13 and was up 8% from a year earlier. The seasonally adjusted Redfin Homebuyer Demand Index is a measure of requests for home tours and other home-buying services from Redfin agents.<\/li>\n<\/ul>\n<p>Refer to our <a href=\"https:\/\/www.redfin.com\/news\/data-center-metrics-definitions\/\">metrics definition page<\/a> for explanations of all the metrics used in this report.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_01-median-sale-price.png\" alt=\"Median Sale Price\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73891\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_01-median-sale-price.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_01-median-sale-price-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_01-median-sale-price-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_01-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\/2022\/02\/2022-02-13_02-median-asking-price.png\" alt=\"Median Asking Price\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73893\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02-median-asking-price.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02-median-asking-price-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02-median-asking-price-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02-median-asking-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\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png\" alt=\"Median Mortgage Payment\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73892\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment-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\/2022\/02\/2022-02-13_03-pending-sales.png\" alt=\"Pending Sales\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73894\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_03-pending-sales.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_03-pending-sales-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_03-pending-sales-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_03-pending-sales-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\/2022\/02\/2022-02-13_04-new-listings.png\" alt=\"New Listings\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73895\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_04-new-listings.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_04-new-listings-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_04-new-listings-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_04-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\/2022\/02\/2022-02-13_05-active-listings.png\" alt=\"Active Listings\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73883\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_05-active-listings.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_05-active-listings-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_05-active-listings-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_05-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\/2022\/02\/2022-02-13_06-off-market-in-2-weeks.png\" alt=\"Off-Market in 2 Weeks\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73884\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_06-off-market-in-2-weeks.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_06-off-market-in-2-weeks-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_06-off-market-in-2-weeks-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_06-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\/2022\/02\/2022-02-13_07-off-market-in-1-week.png\" alt=\"Off-Market in 1 Week\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73885\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_07-off-market-in-1-week.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_07-off-market-in-1-week-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_07-off-market-in-1-week-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_07-off-market-in-1-week-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\/2022\/02\/2022-02-13_08-days-on-market.png\" alt=\"Days on Market\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73886\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_08-days-on-market.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_08-days-on-market-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_08-days-on-market-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_08-days-on-market-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\/2022\/02\/2022-02-13_09-sold-above-list.png\" alt=\"Share of Homes Sold Above List\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73887\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_09-sold-above-list.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_09-sold-above-list-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_09-sold-above-list-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_09-sold-above-list-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\/2022\/02\/2022-02-13_10-price-drops.png\" alt=\"Price Drops\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73888\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_10-price-drops.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_10-price-drops-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_10-price-drops-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_10-price-drops-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\/2022\/02\/2022-02-13_11-sale-to-list.png\" alt=\"Sale-to-List Ratio\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73889\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_11-sale-to-list.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_11-sale-to-list-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_11-sale-to-list-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_11-sale-to-list-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\/2022\/02\/2022-02-13_12-Redfin-homebuyer-demand-index.png\" alt=\"Redfin Homebuyer Demand Index\" width=\"1200\" height=\"900\" class=\"alignnone size-full wp-image-73890\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_12-Redfin-homebuyer-demand-index.png 1200w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_12-Redfin-homebuyer-demand-index-300x225.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_12-Redfin-homebuyer-demand-index-1024x768.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_12-Redfin-homebuyer-demand-index-768x576.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.<\/p>\n","protected":false},"author":13505,"featured_media":73892,"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],"coauthors":[62],"class_list":["post-73882","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 v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record<\/title>\n<meta name=\"description\" content=\"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.\" \/>\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-fastest-most-expensive-ever\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record\" \/>\n<meta property=\"og:description\" content=\"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/\" \/>\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=\"2022-02-18T13:00:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-26T20:02:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tim Ellis\" \/>\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=\"Tim Ellis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 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-fastest-most-expensive-ever\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/\"},\"author\":{\"name\":\"Tim Ellis\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/18d447d70adabf376e05ea45cfb78a2e\"},\"headline\":\"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record\",\"datePublished\":\"2022-02-18T13:00:11+00:00\",\"dateModified\":\"2022-10-26T20:02:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/\"},\"wordCount\":710,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/2022-02-13_02b-median-mortgage-payment.png\",\"keywords\":[\"Coronavirus\",\"Housing Market Tracker\"],\"articleSection\":[\"Coronavirus Housing Market News\",\"Housing Market News\",\"Weekly Market Update\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/\",\"name\":\"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/2022-02-13_02b-median-mortgage-payment.png\",\"datePublished\":\"2022-02-18T13:00:11+00:00\",\"dateModified\":\"2022-10-26T20:02:08+00:00\",\"description\":\"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/2022-02-13_02b-median-mortgage-payment.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/2022-02-13_02b-median-mortgage-payment.png\",\"width\":1200,\"height\":900,\"caption\":\"Median Mortgage Payment\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/housing-market-update-fastest-most-expensive-ever\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/18d447d70adabf376e05ea45cfb78a2e\",\"name\":\"Tim Ellis\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g49809922b909433f6e289ea162e9f986\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g\",\"caption\":\"Tim Ellis\"},\"description\":\"Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the \\\"Dispatches from the Multiverse\\\" improvised comedy sci-fi podcast.\",\"sameAs\":[\"https:\\\/\\\/ellis.fyi\"],\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/tim-ellisredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record","description":"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/","og_locale":"en_US","og_type":"article","og_title":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record","og_description":"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.","og_url":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2022-02-18T13:00:11+00:00","article_modified_time":"2022-10-26T20:02:08+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png","type":"image\/png"}],"author":"Tim Ellis","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Tim Ellis","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/"},"author":{"name":"Tim Ellis","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/18d447d70adabf376e05ea45cfb78a2e"},"headline":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record","datePublished":"2022-02-18T13:00:11+00:00","dateModified":"2022-10-26T20:02:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/"},"wordCount":710,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png","keywords":["Coronavirus","Housing Market Tracker"],"articleSection":["Coronavirus Housing Market News","Housing Market News","Weekly Market Update"],"inLanguage":"en-US","copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/","url":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/","name":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png","datePublished":"2022-02-18T13:00:11+00:00","dateModified":"2022-10-26T20:02:08+00:00","description":"A record 57% of homes sold in two weeks and the typical monthly mortgage payment soared to a new high, approaching $2,000.","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2022\/02\/2022-02-13_02b-median-mortgage-payment.png","width":1200,"height":900,"caption":"Median Mortgage Payment"},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/housing-market-update-fastest-most-expensive-ever\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"Housing Market Update: Homebuyers Face the Fastest, Priciest Market on Record"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/18d447d70adabf376e05ea45cfb78a2e","name":"Tim Ellis","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g49809922b909433f6e289ea162e9f986","url":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/feb22c16d7caf03e08cfd06aef3c2f1593e324fc3767c12e1ba523a4ab5db00b?s=96&d=wp_user_avatar&r=g","caption":"Tim Ellis"},"description":"Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the \"Dispatches from the Multiverse\" improvised comedy sci-fi podcast.","sameAs":["https:\/\/ellis.fyi"],"url":"https:\/\/www.redfin.com\/news\/author\/tim-ellisredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13505"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=73882"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/73882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/73892"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=73882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=73882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=73882"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=73882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}