Intense Homebuyer Demand Continues in the U.S., Despite COVID Outbreak Residential News » Seattle Edition | By WPJ Staff

Intense Homebuyer Demand Continues in the U.S., Despite COVID Outbreak Residential News » Seattle Edition | By WPJ Staff
Posted By @ Nov 10th 2020 8:15pm In: Charleston SC Real Estate

Time on market still short as pending sales stay high over 2019

Robust buyer-side demand persisted through October. For the fourth consecutive week, houses are typically staying on the market for 12 days, a full 17 days faster than last year.
Pending sales are up 19.7% year over year, though they have slowed 3.1% since last month and 1.3% since last week.
Scalding homebuyer demand keeps inventory in a vise-grip

Available inventory fell for the 23rd straight week and is now down 37.4% compared to last year. Demand for homes is still sky high, while current homeowners cite a lack of confidence in their ability to secure and afford a new home among reasons they're not selling.
New listings dropped 7.4% year over year and 7.9% since last week.
Price growth over 2019 increases as hot market stretches further into fall

Median list prices have risen further above last year's figures every week since early May and are now up 11.8% year over year. List prices fell $500 since last week to $345,500 -- the first weekly drop since mid-April.
Homeowners who decide to sell are benefitting from insatiable demand. Median sale prices rose to $289,625 in the week ending September 19, up 12.5% over 2019.

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https://www.worldpropertyjournal.com/real-estate-news/united-states/seattle/real-estate-news-zillow-october-2020-housing-report-home-buyer-demand-data-covid-19-impact-on-home-sales-median-home-prices-in-2020-12220.php



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