Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

Sep 7, 2020 7:39 AM ET

Rising Prices, Low Supply Show Sellers in Control of Housing Market




iCrowd Newswire - Sep 7, 2020

Sellers continued to drive a housing market with low supply and eager buyers as total for-sale inventory contracted for the 13th straight week and typical time-on-market maintained record lows, according to Zillow’s Weekly Market Report1. Typical homes on the market are more expensive as median list prices are up nearly 9% compared to last year. Buyers may see relief on the horizon, however, as new for-sale inventory rose month-over-month and is closer to last-year’s figures than any time since March.

Days-to-pending match August lows; newly pending sales stabilize high above last year

For-sale inventory continues to tighten, though new listings may provide relief

List prices skyrocket over last year

Eviction moratorium extended through December and mortgage rates fall again

 

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.

Zillow is owned and operated by Zillow Group, Inc..

1 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. New for-sale listings data reflect daily counts using a smoothed, seven-day trailing average. Total for-sale listings, newly pending sales, days to pending and median list price data reflect weekly counts using a smoothed, four-week trailing average. National newly pending sales trends are based upon aggregation of the 38 largest metro areas where historic pending listing data coverage is most statistically reliable, and excludes some metros due to upstream data coverage issues. For more information, visit www.zillow.com/research/.



Contact Information:

www.zillow.com








Tags:    Wire Real Estate, Wire, United States, English