{"id":456755,"date":"2021-03-12T08:03:35","date_gmt":"2021-03-12T13:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=456755"},"modified":"2021-03-12T08:03:35","modified_gmt":"2021-03-12T13:03:35","slug":"home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier\/","title":{"rendered":"Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">The average sale-to-list price ratio shot up to 100.1% nationwide, marking the first time on record the typical home has sold above its list price<\/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\">March 12, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) &#8212; The median home-sale price increased 17% year over year to <span class=\"xn-money\">$328<\/span>,350\u2014an all-time high\u2014according to a new <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3095088-1&amp;h=4187578849&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-sale-to-list-over-100-pct%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=3095088-1&amp;h=2818893057&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. This is the largest increase on record in this data set, which goes back through 2016.<\/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 more than 400 U.S. metro areas during the 4-week period ending <span class=\"xn-chron\">March 7<\/span>.<\/p>\n<ul type=\"disc\">\n<li>Asking prices of newly listed homes hit a new all-time high of <span class=\"xn-money\">$349,975<\/span>, up 10% from the same time a year ago. <\/li>\n<li>Pending home sales were up 19% year over year and up 3% from the four-week period ending <span class=\"xn-chron\">February 7<\/span>. In the two weeks since pending sales dipped during the winter storms over the 7-day period ending <span class=\"xn-chron\">February 21<\/span>, the weekly number of pending sales is up 17%. <\/li>\n<li>New listings of homes for sale were down 17% from a year earlier. <\/li>\n<li>Active listings (the number of homes listed for sale at any point during the period) fell 41% from 2020 to a new all-time low. This is the largest decrease on record in this data, which goes back through 2016. <\/li>\n<li>56% of homes that went under contract had an accepted offer within the first two weeks on the market, well above the 45% rate during the same period a year ago. This is another new all-time high for this measure since at least 2012 (as far back as Redfin&#8217;s data for this measure goes). During the 7-day period ending <span class=\"xn-chron\">March 7<\/span>, 59% of homes sold in two weeks or less. <\/li>\n<li>44% of homes that went under contract had an accepted offer within <i>one <\/i>week of hitting the market, up from 32% during the same period a year earlier. This is also an all-time high for this measure. During the 7-day period ending <span class=\"xn-chron\">March 7<\/span>, 48% sold in one week or less. <\/li>\n<li>The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased to 99.8%\u20141.7 percentage points higher than a year earlier and an all-time high. During the 7-day period ending <span class=\"xn-chron\">March 7<\/span>, the ratio shot up to 100.1%, the first time on record since this data series began in 2016 that the average home has sold for <i>above<\/i> its list price nationwide. <\/li>\n<li>For the 7-day period ending <span class=\"xn-chron\">March 7<\/span>, the seasonally adjusted Redfin Homebuyer Demand Index\u2014a measure of requests for home tours and other services from Redfin agents\u2014was up 55% from the same period a year ago. <\/li>\n<li>Mortgage purchase applications increased 7% week over week (seasonally adjusted) and were up 2% from a year earlier (unadjusted) during the week ending <span class=\"xn-chron\">March 5<\/span>. For the week ending <span class=\"xn-chron\">March 11<\/span>, 30-year mortgage rates increased to 3.05%, the highest level since July.<\/li>\n<\/ul>\n<p>&#8220;Sellers&#8217; asking prices have marched upward every week this year. Buyers have learned that if they aren&#8217;t aggressive enough one week, they will have to bid higher on a home that&#8217;s listed the following week,&#8221; said Redfin Chief Economist <span class=\"xn-person\">Daryl Fairweather<\/span>. &#8220;This super competitive housing market has been fueled by rock-bottom mortgage rates, so home prices should start to grow at a slower rate as mortgage rates tick up.&#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=3095088-1&amp;h=1416744129&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-sale-to-list-over-100-pct%2F&amp;a=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-sale-to-list-over-100-pct%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.redfin.com\/news\/housing-market-sale-to-list-over-100-pct\/<\/a><\/u><\/p>\n<p>\n        <b>About Redfin <br \/><\/b>Redfin (<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3095088-1&amp;h=4260583549&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener noreferrer\">www.redfin.com<\/a><\/u>) 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 nationwide brokerage website, 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=3095088-1&amp;h=471754306&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 95 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 nearly <span class=\"xn-money\">$1 billion<\/span> and we&#8217;ve helped them buy or sell more than 310,000 homes worth more than <span class=\"xn-money\">$152 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=3095088-1&amp;h=4260583549&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=3095088-1&amp;h=1902529045&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fdata-center%2F&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=3095088-1&amp;h=2622133282&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<p>\u00a0<\/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=SF07675&amp;sd=2021-03-12\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier-301246230.html\">http:\/\/www.prnewswire.com\/news-releases\/home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier-301246230.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=SF07675&amp;Transmission_Id=202103120800PR_NEWS_USPR_____SF07675&amp;DateId=20210312\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average sale-to-list price ratio shot up to 100.1% nationwide, marking the first time on record the typical home has sold above its list price PR Newswire SEATTLE, March 12, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) &#8212; The median home-sale price increased 17% year over year to $328,350\u2014an all-time high\u2014according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. 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 7. Asking prices of newly listed homes hit a new all-time high of $349,975, up 10% from the same time a year ago. Pending &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier&#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-456755","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier - 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\/home-prices-increased-a-record-17-pending-sales-up-19-from-a-year-earlier\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The average sale-to-list price ratio shot up to 100.1% nationwide, marking the first time on record the typical home has sold above its list price PR Newswire SEATTLE, March 12, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) &#8212; The median home-sale price increased 17% year over year to $328,350\u2014an all-time high\u2014according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. 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 7. Asking prices of newly listed homes hit a new all-time high of $349,975, up 10% from the same time a year ago. 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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 7. Asking prices of newly listed homes hit a new all-time high of $349,975, up 10% from the same time a year ago. 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