![]() Monthly new listing volume was down 25.1% and removals were up 64.3% compared to November 2021 M onthly Net New Listing Volume (Single-Family Detached Homes): Percent change in net new listing activity over the last 52 weeks versus the same period in 2021, broken down by home price: Percentage of total net new listings over the last 52 weeks, broken down by home price: Since November 2021, there have been 3,068,088 net new listings placed on the market, which is an 10.9% decrease compared to the 52 weeks prior Be sure to review the Market Pulse in full for extensive state-level data. Select findings from this month’s Market Pulse are below. ![]() While the Fed has signaled smaller rate hikes in the near future, housing market fundamentals in early 2023 are likely to be characterized by continued tight supply and shrinking demand." This underscores that forces beyond seasonality – such as uncertainty related to interest rate hikes and an economic downturn – are leaving both homeowners and would-be buyers on the sidelines. In November, net new listing volume and contract volume experienced double-digit declines compared to the year prior. Housing market seasonality coupled with rate hikes indicate that we are likely headed towards even sharper decreases in market activity. "Following the Fed’s fourth straight 75-basis-point interest rate hike in November, housing market activity has continued its downward trend as we approach the holiday season. Jeremy Sicklick, Co-Founder and Chief Executive Officer of HouseCanary, commented: The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform. ("HouseCanary"), a national brokerage known for its real estate valuation accuracy, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between November 2021 and November 2022. SAN FRANCISCO, December 07, 2022-( BUSINESS WIRE)-HouseCanary, Inc. Listings Under Contract Experienced Its Seventh Consecutive Month of Double-Digit Year-Over-Year Declines in November, Underscoring Shrinking Demand Negative Supply Persisted in November, Driven by a 25.1% Drop in New Listing Volume and a 64.3% Increase in Removals on a Year-Over-Year Basis Elevated Interest Rates Coupled with Housing Market Seasonality Has Driven Significant Declines in New Inventory, New Listings and Listings Under Contract on a Year-Over-Year Basis
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