{"id":393665,"date":"2020-12-04T13:33:20","date_gmt":"2020-12-04T18:33:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393665"},"modified":"2020-12-04T13:33:20","modified_gmt":"2020-12-04T18:33:20","slug":"pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019\/","title":{"rendered":"Pending Sales Return to Typical Seasonal Trend, Still Up 28% From 2019"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Home prices rose 16% from a year earlier, and new listings were up 9%<\/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\">Dec. 4, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 16% year over year to <span class=\"xn-money\">$322,828<\/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=3003070-1&amp;h=3412662364&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-thanksgiving%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=3003070-1&amp;h=4007905260&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. <\/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 29<\/span>. <\/p>\n<ul type=\"disc\">\n<li>Pending home sales were up 28% year over year even as the number of pending sales steeply declined during the week of Thanksgiving, following the typical seasonal trend. In the single week ending <span class=\"xn-chron\">November 15<\/span>, pending sales were up 25% from the same week a year earlier. <\/li>\n<li>New listings of homes for sale were up 9% from a year earlier. The number of new listings was the lowest it has been since the first week of 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>42% of homes that went under contract had an accepted offer within the first two weeks on the market. <\/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 29<\/span>, the seasonally adjusted Redfin Homebuyer Demand Index was up 28% from pre-pandemic levels in January and February. <\/li>\n<li>Mortgage purchase applications increased 9% week over week (seasonally-adjusted) and were up 28% from a year earlier (unadjusted) during the week ending <span class=\"xn-chron\">November 27<\/span>. For the week ending <span class=\"xn-chron\">December 3<\/span>, 30-year mortgage rates dropped to 2.71%, another new all-time low. Rates have been below 3% since late July.<\/li>\n<\/ul>\n<p>&#8220;Sellers took the week off for Thanksgiving, but buyers were still out there searching for homes despite the lack of new listings,&#8221; said Redfin chief economist <span class=\"xn-person\">Daryl Fairweather<\/span>. &#8220;Sellers continue to be in the driver&#8217;s seat when it comes to pricing. And with mortgage rates hitting new record lows nearly every week recently, buyers are tolerant of higher prices. The lack of new listings will put a lid on home sales through the end of year. The few desirable homes put on the market will receive competitive bids, while sellers who don&#8217;t get any bites from buyers will give up and take their homes off the market.&#8221;<\/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=3003070-1&amp;h=336234628&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-thanksgiving%2F&amp;a=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-thanksgiving%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.redfin.com\/news\/housing-market-update-thanksgiving\/<\/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=3003070-1&amp;h=395296551&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=3003070-1&amp;h=1526285487&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=3003070-1&amp;h=3138681488&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=3003070-1&amp;h=137571384&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=3003070-1&amp;h=3668817615&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=SF13670&amp;sd=2020-12-04\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019-301186662.html\">http:\/\/www.prnewswire.com\/news-releases\/pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019-301186662.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=SF13670&amp;Transmission_Id=202012041330PR_NEWS_USPR_____SF13670&amp;DateId=20201204\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home prices rose 16% from a year earlier, and new listings were up 9% PR Newswire SEATTLE, Dec. 4, 2020 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 16% year over year to $322,828, the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 29. Pending home sales were up 28% year over year even as the number of pending sales steeply declined during the week of Thanksgiving, following the typical seasonal trend. In the single week ending November 15, pending sales were up 25% from the same week a year earlier. New &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pending Sales Return to Typical Seasonal Trend, Still Up 28% 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-393665","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pending Sales Return to Typical Seasonal Trend, Still Up 28% 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\/pending-sales-return-to-typical-seasonal-trend-still-up-28-from-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pending Sales Return to Typical Seasonal Trend, Still Up 28% From 2019 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Home prices rose 16% from a year earlier, and new listings were up 9% PR Newswire SEATTLE, Dec. 4, 2020 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014 The median home sale price increased 16% year over year to $322,828, the highest on record, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 29. Pending home sales were up 28% year over year even as the number of pending sales steeply declined during the week of Thanksgiving, following the typical seasonal trend. In the single week ending November 15, pending sales were up 25% from the same week a year earlier. 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Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending November 29. Pending home sales were up 28% year over year even as the number of pending sales steeply declined during the week of Thanksgiving, following the typical seasonal trend. In the single week ending November 15, pending sales were up 25% from the same week a year earlier. 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