{"id":531396,"date":"2021-08-25T14:55:03","date_gmt":"2021-08-25T18:55:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/"},"modified":"2021-08-25T14:55:03","modified_gmt":"2021-08-25T18:55:03","slug":"redfin-reports-median-home-price-up-16-from-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/","title":{"rendered":"Redfin Reports Median Home Price Up 16% From 2020"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Homebuying demand has softened somewhat and the share of home sellers dropping their price each week rose to 5.1%, but pending sales are still 10% above this time last year.<\/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\">Aug. 25, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014The national median home sale price increased 16% year over year to <span class=\"xn-money\">$361,225<\/span>, according to a new <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3270792-1&amp;h=1835151668&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-new-listings-flat%2F&amp;a=report\" rel=\"nofollow noopener\">report<\/a><\/u> from Redfin (<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3270792-1&amp;h=1108190409&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=redfin.com\" rel=\"nofollow noopener\">redfin.com<\/a><\/u>), the technology-powered real estate brokerage. At the same time, the share of home sellers dropping their asking prices each week continues to increase. <\/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\"><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>Pending sales are declining seasonally but are still up 10% from a year ago. Overall, homebuying demand is still very strong. The market frenzy of 2021 has cooled somewhat, but home sellers are still very much in the driver&#8217;s seat in the housing market today.<\/p>\n<p>&#8220;Demand for homes is making a comeback because even though home prices are high and competition is still steep, homebuyers don&#8217;t have many alternatives but to keep trying,&#8221; said Redfin Chief Economist <span class=\"xn-person\">Daryl Fairweather<\/span>. &#8220;This continued demand for homes is enticing more homeowners to sell in order to avoid the fear of missing out on historically high prices. This enthusiasm from both buyers and sellers is translating into continued growth in pending sales compared to last year.&#8221;<\/p>\n<p>\n        <b>Key housing market takeaways for 400+ U.S. metro areas:<br \/><\/b>Unless otherwise noted, this data covers <b>the four-week period ending <span class=\"xn-chron\">August 22<\/span><\/b>. Redfin&#8217;s housing market data goes back through 2012.<\/p>\n<ul type=\"disc\">\n<li>Asking prices of newly listed homes were up 10% from the same time a year ago to a median of <span class=\"xn-money\">$351,730<\/span>, the lowest level since mid-April. This is down 2.7% from the all-time high set during the four-week period ending <span class=\"xn-chron\">June 27<\/span>. <\/li>\n<li>Pending sales were down 6% from their 2021 peak during the four-week period ending <span class=\"xn-chron\">May 30<\/span>. <\/li>\n<li>New listings of homes for sale were nearly flat (+1%) from a year earlier. The number of homes being listed is in a typical seasonal decline, down 9% from the 2021 peak during the four-week period ending <span class=\"xn-chron\">June 27<\/span>. <\/li>\n<li>Active listings (the number of homes listed for sale at any point during the period) fell 23% from 2020\u2014the smallest decline since the four-week period ending <span class=\"xn-chron\">September 20, 2020<\/span>. Active listings are up 16% since their 2021 low during the four-week period ending <span class=\"xn-chron\">March 7<\/span>, but have declined 1% from their 2021 peak during the four-week period ending <span class=\"xn-chron\">August 8<\/span>. <\/li>\n<li>49% of homes that went under contract had an accepted offer within the first two weeks on the market, above the 44% rate during the same period a year ago, but down 8 percentage points from the 2021 peak, set during the four-week period ending <span class=\"xn-chron\">March 28<\/span>. <\/li>\n<li>35% of homes that went under contract had an accepted offer within one week of hitting the market, up from 32% during the same period a year earlier, but down 8 percentage points from the 2021 peak during the four-week period ending <span class=\"xn-chron\">March 28<\/span>. <\/li>\n<li>Homes that sold were on the market for a median of 18 days, up from the all-time low of 15 days seen in late June and July, and down from 34 days a year earlier. <\/li>\n<li>52% of homes sold above list price, up from 32% a year earlier. This measure has been falling since the four-week period ending <span class=\"xn-chron\">July 11<\/span> when it peaked at 55%. <\/li>\n<li>The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, decreased to 101.6%. In other words, the average home sold for 1.6% above its asking price. This measure is down 0.6 percentage points from its peak during the four-week period ending <span class=\"xn-chron\">July 11<\/span> and up 2.5 percentage points from a year earlier.<\/li>\n<\/ul>\n<p>Other\u00a0leading indicators of homebuying activity:<\/p>\n<ul type=\"disc\">\n<li>Mortgage purchase applications increased 3% week over week (seasonally adjusted) during the week ending <span class=\"xn-chron\">August 20<\/span>. For the week ending <span class=\"xn-chron\">August 19<\/span>, 30-year mortgage rates fell slightly to 2.86%. <\/li>\n<li>From <span class=\"xn-chron\">January 1 to August 22<\/span>, home tours went up 11%, compared to a 30% increase over the same period last year according to home tour technology company ShowingTime. <\/li>\n<li>During the week ending <span class=\"xn-chron\">August 22<\/span>, the seasonally adjusted Redfin Homebuyer Demand Index\u2014a measure of requests for home tours and other services from Redfin agents\u2014edged up slightly from the previous week to its highest point since the week ending <span class=\"xn-chron\">April 11<\/span>, and was up 20% from a year earlier.<\/li>\n<\/ul>\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=3270792-1&amp;h=2846637898&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-new-listings-flat%2F&amp;a=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fhousing-market-update-new-listings-flat%2F\" rel=\"nofollow noopener\"><br \/>https:\/\/www.redfin.com\/news\/housing-market-update-new-listings-flat\/<\/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=3270792-1&amp;h=700161414&amp;u=http%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener\">www.redfin.com<\/a><\/u>) is a technology-powered real estate company. We help people find a place to live with brokerage, instant home-buying (iBuying), rentals, lending, title insurance, and renovations services. We sell homes for more money and charge half the fee. We also run the country&#8217;s <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3270792-1&amp;h=3672122794&amp;u=https%3A%2F%2Fredfinlegal.zendesk.com%2Fhc%2Frequests%2F1&amp;a=%231\" rel=\"nofollow noopener\">#1<\/a> real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we&#8217;ve saved customers more than <span class=\"xn-money\">$1 billion<\/span> in commissions. We serve more than 100 markets across the U.S. and <span class=\"xn-location\">Canada<\/span> and employ over 6,000 people.<\/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=3270792-1&amp;h=402266549&amp;u=https%3A%2F%2Fwww.redfin.com%2F&amp;a=www.redfin.com\" rel=\"nofollow noopener\">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=3270792-1&amp;h=2607746013&amp;u=https%3A%2F%2Fwww.redfin.com%2Fnews%2Fdata-center%2F&amp;a=Redfin+Data+Center\" rel=\"nofollow noopener\">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\">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=3270792-1&amp;h=1984157162&amp;u=http%3A%2F%2Fpress.redfin.com%2Fphoenix.zhtml%3Fc%3D252734%26p%3Dirol-overview&amp;a=click+here\" rel=\"nofollow noopener\">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=SF86669&amp;sd=2021-08-25\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/redfin-reports-median-home-price-up-16-from-2020-301362977.html\">https:\/\/www.prnewswire.com\/news-releases\/redfin-reports-median-home-price-up-16-from-2020-301362977.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=SF86669&amp;Transmission_Id=202108251451PR_NEWS_USPR_____SF86669&amp;DateId=20210825\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homebuying demand has softened somewhat and the share of home sellers dropping their price each week rose to 5.1%, but pending sales are still 10% above this time last year. PR Newswire SEATTLE, Aug. 25, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014The national median home sale price increased 16% year over year to $361,225, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. At the same time, the share of home sellers dropping their asking prices each week continues to increase. Pending sales are declining seasonally but are still up 10% from a year ago. Overall, homebuying demand is still very strong. The market frenzy of 2021 has cooled somewhat, but home sellers are still very much in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Redfin Reports Median Home Price Up 16% From 2020&#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-531396","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>Redfin Reports Median Home Price Up 16% From 2020 - 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\/redfin-reports-median-home-price-up-16-from-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redfin Reports Median Home Price Up 16% From 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Homebuying demand has softened somewhat and the share of home sellers dropping their price each week rose to 5.1%, but pending sales are still 10% above this time last year. PR Newswire SEATTLE, Aug. 25, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014The national median home sale price increased 16% year over year to $361,225, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. At the same time, the share of home sellers dropping their asking prices each week continues to increase. Pending sales are declining seasonally but are still up 10% from a year ago. Overall, homebuying demand is still very strong. The market frenzy of 2021 has cooled somewhat, but home sellers are still very much in &hellip; Continue reading &quot;Redfin Reports Median Home Price Up 16% From 2020&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-25T18:55:03+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=\"4 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\\\/redfin-reports-median-home-price-up-16-from-2020\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/redfin-reports-median-home-price-up-16-from-2020\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Redfin Reports Median Home Price Up 16% From 2020\",\"datePublished\":\"2021-08-25T18:55:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/redfin-reports-median-home-price-up-16-from-2020\\\/\"},\"wordCount\":885,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/redfin-reports-median-home-price-up-16-from-2020\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/624025\\\/Redfin_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/redfin-reports-median-home-price-up-16-from-2020\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/redfin-reports-median-home-price-up-16-from-2020\\\/\",\"name\":\"Redfin Reports Median Home Price Up 16% From 2020 - 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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\/redfin-reports-median-home-price-up-16-from-2020\/","og_locale":"en_US","og_type":"article","og_title":"Redfin Reports Median Home Price Up 16% From 2020 - Market Newsdesk","og_description":"Homebuying demand has softened somewhat and the share of home sellers dropping their price each week rose to 5.1%, but pending sales are still 10% above this time last year. PR Newswire SEATTLE, Aug. 25, 2021 \/PRNewswire\/ &#8212;\u00a0(NASDAQ: RDFN) \u2014The national median home sale price increased 16% year over year to $361,225, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. At the same time, the share of home sellers dropping their asking prices each week continues to increase. Pending sales are declining seasonally but are still up 10% from a year ago. Overall, homebuying demand is still very strong. The market frenzy of 2021 has cooled somewhat, but home sellers are still very much in &hellip; Continue reading \"Redfin Reports Median Home Price Up 16% From 2020\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/","og_site_name":"Market Newsdesk","article_published_time":"2021-08-25T18:55:03+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Redfin Reports Median Home Price Up 16% From 2020","datePublished":"2021-08-25T18:55:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/"},"wordCount":885,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/624025\/Redfin_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/redfin-reports-median-home-price-up-16-from-2020\/","name":"Redfin Reports Median Home Price Up 16% From 2020 - 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