{"id":386168,"date":"2020-11-20T15:14:45","date_gmt":"2020-11-20T20:14:45","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386168"},"modified":"2020-11-20T15:14:45","modified_gmt":"2020-11-20T20:14:45","slug":"homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\/","title":{"rendered":"Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Home prices rose 15% and new listings were up just 7%<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SEATTLE<\/span>, <span class=\"xn-chron\">Nov. 20, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 15% year over year to <span class=\"xn-money\">$322,148<\/span>, the highest on record, according to a new <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=538711442&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-activity-picks-back-up%2F&amp;a=report\" rel=\"nofollow noopener noreferrer\">report<\/a><\/u> from Redfin (<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=3988732032&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=redfin.com\" rel=\"nofollow noopener noreferrer\">redfin.com<\/a><\/u>), the technology-powered real estate brokerage. Home prices rose 16% year over year in the single week ending <span class=\"xn-chron\">November 15<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg\" title=\"Redfin Logo (PRNewsfoto\/Redfin)\" alt=\"Redfin Logo (PRNewsfoto\/Redfin)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending <span class=\"xn-chron\">November 15<\/span>. <\/p>\n<ul type=\"disc\">\n<li>Pending home sales climbed 29% year over year even as the number of pending sales continued a typical seasonal decline. In the single week ending <span class=\"xn-chron\">November 15<\/span>, pending sales were up 22% from the same week a year earlier. This is a slight increase compared to the previous week&#8217;s growth. <\/li>\n<li>New listings of homes for sale were up 7% from a year earlier. The one-week year-over-year increase also rebounded to 6% for the week ending <span class=\"xn-chron\">November 15<\/span> from 3% during election week The number of new listings was the lowest it has been since May. <\/li>\n<li>Active listings (the number of homes listed for sale at any point during the period) fell 29% from 2019 to a new all-time low. <\/li>\n<li>43% of homes that went under contract had an accepted offer within the first two weeks on the market. This measure typically peaks in April or May and declines through the end of the year, but this year it held relatively between late June and October, and has only recently begun to decline slightly. <\/li>\n<li>The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to 99.5%\u2014an all-time high and 1.5 percentage points higher than a year earlier. <\/li>\n<li>For the week ending <span class=\"xn-chron\">November 15<\/span>, the seasonally adjusted Redfin Homebuyer Demand Index was up 35% from pre-pandemic levels in January and February. <\/li>\n<li>Mortgage purchase applications increased 4% week over week (seasonally-adjusted) and were up 26% from a year earlier (unadjusted) during the week ending <span class=\"xn-chron\">November 13<\/span>. For the week ending <span class=\"xn-chron\">November 19<\/span>, 30-year mortgage rates dropped to 2.72%, the thirteenth record low this year. Rates have been below 3% since late July.<\/li>\n<\/ul>\n<p>&#8220;In early November, few homeowners decided to list amidst all of the uncertainty and anxiety about the election outcome,&#8221; said Redfin chief economist <span class=\"xn-person\">Daryl Fairweather<\/span>. &#8220;But that anxiety didn&#8217;t stop buyers from scooping up the homes that were left for sale. However, our data is starting to show a slowdown in the number of people viewing homes, which is typical for this time of year. If that trend continues the way we&#8217;d expect it to, buyers who remain in the market may start to encounter less competition than we&#8217;ve grown accustomed to since the summer, before the market likely returns to full speed in the new year.&#8221; \u00a0<\/p>\n<p>To view the full report, including charts and methodology, please visit: <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=4035690999&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-activity-picks-back-up%2F&amp;a=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-activity-picks-back-up%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.redfin.com\/news\/housing-market-update-activity-picks-back-up\/<\/a><\/u><\/p>\n<p>\n        <b>About Redfin <br \/><\/b>Redfin (<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=349388875&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2798157-1%26h%3D3738612622%26u%3Dhttp%253A%252F%252Fwww.redfin.com%252F%26a%3Dwww.redfin.com&amp;a=www.redfin.com\" rel=\"nofollow noopener noreferrer\">www.redfin.com<\/a>) is a technology-powered residential real estate company, redefining real estate in the consumer&#8217;s favor in a commission-driven industry. We do this by integrating every step of the home buying and selling process and pairing our own agents with our own technology, creating a service that is faster, better and costs less. We offer brokerage, iBuying, mortgage, and title services, and we also run the country&#8217;s #1 real estate brokerage search site, offering a host of online tools to consumers, including the <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=1504033731&amp;u=https%3A%2F%2Fwww.redfin.com%2Fredfin-estimate&amp;a=Redfin+Estimate\" rel=\"nofollow noopener noreferrer\">Redfin Estimate<\/a><\/u>. We represent people buying and selling homes in over 90 markets in <span class=\"xn-location\">the United States<\/span> and <span class=\"xn-location\">Canada<\/span>. Since our launch in 2006, we have saved our customers over <span class=\"xn-money\">$800 million<\/span> and we&#8217;ve helped them buy or sell more than 235,000 homes worth more than <span class=\"xn-money\">$115 billion<\/span>.<\/p>\n<p>For more information or to contact a local Redfin real estate agent, visit <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=3091760636&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener noreferrer\">www.redfin.com<\/a><\/u>. To learn about housing market trends and download data, visit the <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=191877972&amp;u=https%3A%2F%2Fwww.redfin.com%2Fblog%2Fdata-center&amp;a=Redfin+Data+Center\" rel=\"nofollow noopener noreferrer\">Redfin Data Center<\/a><\/u>. To be added to Redfin&#8217;s press release distribution list, email <u><a target=\"_blank\" href=\"mailto:press@redfin.com\" rel=\"nofollow noopener noreferrer\">press@redfin.com<\/a><\/u>. To view Redfin&#8217;s press center, <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2988947-1&amp;h=3656468899&amp;u=http%3A%2F%2Fpress.redfin.com%2Fphoenix.zhtml%3Fc%3D252734%26p%3Dirol-overview&amp;a=click+here\" rel=\"nofollow noopener noreferrer\">click here<\/a><\/u>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF99070&amp;sd=2020-11-20\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019-301178265.html\">http:\/\/www.prnewswire.com\/news-releases\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019-301178265.html<\/a><\/p>\n<p>SOURCE  Redfin<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF99070&amp;Transmission_Id=202011201511PR_NEWS_USPR_____SF99070&amp;DateId=20201120\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home prices rose 15% and new listings were up just 7% PR Newswire SEATTLE, Nov. 20, 2020 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 15% year over year to $322,148, the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Home prices rose 16% year over year in the single week ending November 15. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 15. Pending home sales climbed 29% year over year even as the number of pending sales continued a typical seasonal decline. In the single week ending November 15, pending sales were up 22% from the same week a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386168","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Home prices rose 15% and new listings were up just 7% PR Newswire SEATTLE, Nov. 20, 2020 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 15% year over year to $322,148, the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Home prices rose 16% year over year in the single week ending November 15. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 15. Pending home sales climbed 29% year over year even as the number of pending sales continued a typical seasonal decline. In the single week ending November 15, pending sales were up 22% from the same week a &hellip; Continue reading &quot;Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-20T20:14:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019\",\"datePublished\":\"2020-11-20T20:14:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/\"},\"wordCount\":662,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/624025\\\/Redfin_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\\\/\",\"name\":\"Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/homebuying-picks-up-after-election-week-pending-sales-up-29-from-2019\/","og_locale":"en_US","og_type":"article","og_title":"Homebuying Picks Up After Election Week, Pending Sales Up 29% From 2019 - Market Newsdesk","og_description":"Home prices rose 15% and new listings were up just 7% PR Newswire SEATTLE, Nov. 20, 2020 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 15% year over year to $322,148, the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Home prices rose 16% year over year in the single week ending November 15. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 15. Pending home sales climbed 29% year over year even as the number of pending sales continued a typical seasonal decline. 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