Skip to main content

Zillow: Sales Activity On The Rise As Buyer Options Remain Tight

Navi Persaud
Jun 19, 2020
Nice new home.

Zillow's Weekly Market Report reveals homebuyer demand continues to grow, but choices are growing increasingly limited. For the week ending June 13, 2020, Zillow reports new pending sales are up compared to the previous week, but new listings and total listings have tumbled. 
 
According to the report, new pending sales increased by 2.8% week-over-week and happen to be 17.7% higher than the previous month. Buyers are becoming more comfortable as safety guidelines have increased peace of mind when it comes to starting or resuming the buying process. Philadelphia and New York have seen the biggest growth in pending sales out of the 35 largest U.S. metros, up 62.7% and 58.1%, respectively. 
 
Things are much different on the inventory side. The report revealed that for-sale inventory dipped 0.4% from the previous week, but is now 17.1% below last year's level. Additionally, 3.8% fewer new listings came onto the market from the prior week. New listings are up 13.9% month-over-month, according to the report, though, they are down 16.6% annually.
 
Overall, the median list price is up 2.5% to $332,680 year-over-year. However, Zillow's May 2020 Real Estate Market Report predicted home values to decline in the second half of 2020.
 
Click here to view more from Zillow's Weekly Market Report.

 
Published
Jun 19, 2020
Clear Capital Announces 350 New Hires And 170 Job Openings

Clear Capital, a national real estate valuation technology company, announced it has hired more than 350 people so far in 2021, with 170 jobs currently open and accepting applications.

Community
Oct 28, 2021
Fitch To Rate BRAVO 2021-NQM3, Presale Issued

Fitch Ratings assigned its expected ratings to Bravo Residential Funding Trust's 2021-NQM3 supported by 934 loans with a total interest-bearing balance of approximately $346 million as of the cutoff date, according to Fitch.

Non-QM
Oct 28, 2021
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Tech
Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021