Our research team releases regular monthly housing trends reports. These reports break down inventory metrics like the number of active listings and the pace of the market. In addition, we continue to give readers more timely weekly updates, an effort that began in response to the rapid changes in the economy and housing as a result of the COVID-19 pandemic. Generally, you can look forward to a Weekly Housing Trends View and the latest weekly housing data on Thursdays with a weekly video update from our economists on Fridays. Here’s what the housing market looked like over the last week.
With the time on market gap shrinking and the surge in active inventory losing momentum even as fewer homeowners decided to sell, this week’s data suggests that buyers are active in the housing market, even if they are not as numerous as they were one year ago. Moreover, the smaller number of homeowners who are choosing to sell appear to be calibrating their price expectations, causing the rate of asking price growth to ease again.
Recent signs of a housing bottom have been encouraging, but the still-shifting financial and economic landscape makes it hard to pinpoint whether the floor is firm enough to withstand these new challenges. In the meanwhile, that means housing activity is likely to continue roughly in line with its recent low pace of sales.
Note: With the release of its Weekly Housing Trends Views-Data Week Ending in Feb.18 2023 , Realtor.com® incorporated a new and improved methodology for capturing and reporting housing inventory trends and metrics. The new methodology updates and improves the calculation of time on market and improves handling of duplicate listings. Most areas across the country will see minor changes with a smaller handful of areas seeing larger updates. As a result of these changes, the weekly data released since February 23, 2023 will not be directly comparable with previous data releases (files downloaded before February 23, 2023) and Realtor.com® economics blog posts. However, future data releases, including historical data, will consistently apply the new methodology.
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Weekly Housing Trends View — Data Week Ending Mar 4, 2023 – Realtor.com News
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