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By: Bridgetower News Service
The median home sale price increased 17% year over year to $330,250—an all-time
high—according to a new report from Redfin (redfin.com). This is the largest increase
on record in this data set, which goes back through 2016.
Below are other key housing market takeaways for more than 400 U.S. metro areas
during the 4-week period ending March 14.
Asking prices of newly listed homes hit a new all-time high of $350,972, up 10% from
the same time a year ago.
Pending home sales were up 21% year over year, the smallest increase since August.
New listings of homes for sale were down 17% from a year earlier.
Active listings (the number of homes listed for sale at any point during the period) fell
42% from 2020 to a new all-time low. This is the largest decrease on record in this data,
which goes back through 2016.
57% of homes that went under contract had an accepted offer within the first two weeks
on the market, well above the 46% rate during the same ...
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