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Realtor.com® Weekly Housing Report: Stubbornly High Home Prices Refuse to Come Down From Their Summer Peak


Realtor.com® Weekly

iCrowdNewswire   Oct 9, 202012:09 PM ET

 During the first week of October, the U.S. median home price remained near its summer peak of $350,000 and hit record-high growth of 12.9% over last year, showing no signs of the usual fall cool down, according to realtor.com®‘s Weekly Housing Report for the week ending Oct. 3. The decline in the number of homes on the market improved slightly this week, which may be evidence of high prices enticing more sellers to stay in the market.

“While buyers would normally begin to hunker down this time of year, we expect to see an unusually high number remain in the market this fall,” said Danielle Hale, chief economist at realtor.com®. “This gives sellers a rare opportunity to get top dollar for their home outside of the prime selling season, which may be motivating some to stay in the market. However, even with record breaking prices, we’re not seeing sellers rush into the market with the same eagerness as buyers. Looking forward, a key question is whether this frenzied demand will continue into the spring or if we’ll see more balance between home buyers and sellers.”  

Home prices show no signs of coming down anytime soon

The decline in the number of homes on the market improves slightly over last week

Homes are selling nearly two weeks faster than last year

Overall health of the housing market holds steady entering October

Metro

Median Listing Price YoY

Total Listings YoY

Median Days on Market YoY

Akron, Ohio

9.1%

-53.2%

10 days faster

Albany-Schenectady-Troy, N.Y.

13.8%

-44.1%

15 days faster

Albuquerque, N.M.

12.5%

-50.7%

7 days faster

Allentown-Bethlehem-Easton, Pa.-N.J.

24.5%

-56.7%

40 days faster

Atlanta-Sandy Springs-Roswell, Ga.

9.9%

-46.1%

10 days faster

Augusta-Richmond County, Ga.-S.C.

7.6%

-47.7%

19 days faster

Austin-Round Rock, Texas

14.7%

-46.9%

12 days faster

Bakersfield, Calif.

18.9%

-46.2%

13 days faster

Baltimore-Columbia-Towson, Md.

7.4%

-50.0%

11 days faster

Baton Rouge, La.

13.9%

-36.4%

2 days faster

Birmingham-Hoover, Ala.

6.0%

-36.3%

14 days faster

Boise City, Idaho

15.3%

-70.1%

1 day slower

Boston-Cambridge-Newton, Mass.-N.H.

18.4%

-30.6%

19 days faster

Bridgeport-Stamford-Norwalk, Conn.

2.3%

-24.9%

44 days faster

Buffalo-Cheektowaga-Niagara Falls, N.Y.

8.6%

-45.0%

1 day slower

Cape Coral-Fort Myers, Fla.

12.3%

-35.3%

18 days faster

Charleston-North Charleston, S.C.

14.4%

-42.2%

22 days faster

Charlotte-Concord-Gastonia, N.C.-S.C.

8.4%

-48.3%

14 days faster

Chattanooga, Tenn.-Ga.

11.9%

-50.6%

13 days faster

Chicago-Naperville-Elgin, Ill.-Ind.-Wis.

8.5%

-33.0%

7 days faster

Cincinnati, Ohio-Ky.-Ind.

18.5%

-46.4%

9 days faster

Cleveland-Elyria, Ohio

2.6%

-48.7%

15 days faster

Colorado Springs, Colo.

3.4%

-50.8%

12 days faster

Columbia, S.C.

8.5%

-47.0%

19 days faster

Columbus, Ohio

6.0%

-46.8%

14 days faster

Dallas-Fort Worth-Arlington, Texas

4.2%

-45.8%

8 days faster

Dayton, Ohio

17.7%

-45.5%

11 days faster

Deltona-Daytona Beach-Ormond Beach, Fla.

4.0%

-43.4%

20 days faster

Denver-Aurora-Lakewood, Colo.

3.7%

-41.8%

7 days faster

Des Moines-West Des Moines, Iowa

3.6%

-37.4%

8 days faster

Detroit-Warren-Dearborn, Mich

12.0%

-46.7%

8 days faster

Durham-Chapel Hill, N.C.

18.4%

-46.6%

7 days faster

El Paso, Texas

15.2%

-44.7%

18 days faster

Fresno, Calif.

7.0%

-55.4%

23 days faster

Grand Rapids-Wyoming, Mich

9.1%

-50.4%

3 days slower

Greensboro-High Point, N.C.

9.7%

-48.9%

14 days faster

Greenville-Anderson-Mauldin, S.C.

4.1%

-40.7%

6 days faster

Harrisburg-Carlisle, Pa.

14.1%

-50.6%

7 days faster

Hartford-West Hartford-East Hartford, Conn.

7.1%

-32.0%

21 days faster

Houston-The Woodlands-Sugar Land, Texas

6.5%

-32.0%

10 days faster

Indianapolis-Carmel-Anderson, Ind.

12.2%

-47.2%

11 days faster

Jackson, Miss.

18.5%

-46.2%

20 days faster

Jacksonville, Fla.

3.6%

-44.8%

13 days faster

Kansas City, Mo.-Kan.

11.9%

-48.2%

7 days faster

Knoxville, Tenn.

18.5%

-54.9%

11 days faster

Lakeland-Winter Haven, Fla.

7.8%

-32.5%

1 day faster

Las Vegas-Henderson-Paradise, Nev.

8.6%

-7.5%

8 days faster

Little Rock-North Little Rock-Conway, Ark.

22.6%

-49.6%

20 days faster

Los Angeles-Long Beach-Anaheim, Calif.

16.5%

-24.8%

5 days faster

Louisville/Jefferson County, Ky.-Ind.

4.0%

-50.8%

11 days faster

Madison, Wis.

1.5%

-43.4%

10 days faster

McAllen-Edinburg-Mission, Texas

16.6%

-47.1%

24 days faster

Memphis, Tenn.-Miss.-Ark.

20.0%

-49.2%

11 days faster

Miami-Fort Lauderdale-West Palm Beach, Fla.

2.5%

-15.3%

3 days faster

Milwaukee-Waukesha-West Allis, Wis.

9.1%

-41.1%

7 days faster

Minneapolis-St. Paul-Bloomington, Minn.-Wis.

4.5%

-30.5%

7 days faster

Nashville-Davidson–Murfreesboro–Franklin, Tenn.

8.1%

-41.6%

6 days faster

New Haven-Milford, Conn.

7.6%

-23.0%

28 days faster

New Orleans-Metairie, La.

18.2%

-39.0%

7 days faster

New York-Newark-Jersey City, N.Y.-N.J.-Pa.

16.2%

-3.4%

10 days faster

North Port-Sarasota-Bradenton, Fla.

3.0%

-33.5%

21 days faster

Oklahoma City, Okla.

7.8%

-39.4%

7 days faster

Omaha-Council Bluffs, Neb.-Iowa

5.5%

-47.0%

8 days slower

Orlando-Kissimmee-Sanford, Fla.

1.9%

-21.1%

5 days faster

Oxnard-Thousand Oaks-Ventura, Calif.

7.7%

-41.1%

23 days faster

Palm Bay-Melbourne-Titusville, Fla.

7.0%

-41.1%

7 days faster

Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.

16.7%

-39.7%

15 days faster

Phoenix-Mesa-Scottsdale, Ariz.

6.8%

-40.4%

7 days faster

Pittsburgh, Pa.

25.0%

-36.2%

8 days faster

Portland-South Portland, Maine

12.8%

-48.9%

32 days faster

Portland-Vancouver-Hillsboro, Ore.-Wash.

6.4%

-43.5%

4 days faster

Providence-Warwick, R.I.-Mass.

6.9%

-52.9%

11 days faster

Raleigh, N.C.

5.4%

-45.1%

11 days faster

Richmond, Va.

8.0%

-44.8%

7 days faster

Riverside-San Bernardino-Ontario, Calif.

13.7%

-54.0%

12 days faster

Rochester, N.Y.

9.3%

-42.2%

14 days faster

Sacramento–Roseville–Arden-Arcade, Calif.

10.6%

-50.5%

14 days faster

Salt Lake City, Utah

15.1%

-51.6%

4 days faster

San Antonio-New Braunfels, Texas

3.5%

-40.3%

9 days faster

San Diego-Carlsbad, Calif.

11.8%

-26.2%

34 days faster

San Francisco-Oakland-Hayward, Calif.

11.7%

-5.9%

4 days slower

San Jose-Sunnyvale-Santa Clara, Calif.

6.8%

-23.2%

7 days faster

Scranton–Wilkes-Barre–Hazleton, Pa.

22.6%

-54.4%

28 days faster

Seattle-Tacoma-Bellevue, Wash.

5.9%

-31.5%

8 days faster

Spokane-Spokane Valley, Wash.

10.2%

-49.1%

8 days faster

Springfield, Mass.

27.0%

-45.0%

25 days faster

St. Louis, Mo.-Ill.

10.2%

-38.0%

8 days faster

Stockton-Lodi, Calif.

7.9%

-62.7%

5 days faster

Syracuse, N.Y.

8.9%

-42.0%

3 days faster

Tampa-St. Petersburg-Clearwater, Fla.

9.0%

-44.0%

10 days faster

Toledo, Ohio

16.9%

-40.1%

8 days faster

Tucson, Ariz.

8.3%

-42.7%

7 days faster

Tulsa, Okla.

12.3%

-41.9%

11 days faster

Urban Honolulu, Hawaii

-11.1%

25.4%

4 days slower

Virginia Beach-Norfolk-Newport News, Va.-N.C.

8.5%

-47.6%

22 days faster

Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va.

8.2%

-35.4%

8 days faster

Wichita, Kan.

10.6%

-44.8%

11 days faster

Winston-Salem, N.C.

8.5%

-48.3%

16 days faster

Worcester, Mass.-Conn.

11.6%

-54.4%

26 days faster

Youngstown-Warren-Boardman, Ohio-Pa.

7.2%

-56.4%

16 days faster

Contact: Cody Horvat, cody.horvat@realtor.com



Contact Information:

Cody Horvat, cody.horvat@realtor.com








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