SEATTLE, July 10, 2020 /PRNewswire/ -- Sellers have the upper hand in today's housing market, according to Zillow's Weekly Market Reporti. Despite a dip in newly pending sales, homes are flying off the market at a record pace and inventory remains incredibly scarce.
Homes are being snatched up at a record pace
The housing market continues to be starved for inventory
Few price cuts show the market has tilted in favor of sellers
Metropolitan Area | Newly Pending Sales - MoM | Newly Pending Sales - WoW | Median Days to Pending | New For-Sale Listings - YoY | New For-Sale Listings - WoW | Total For-Sale Listings - YoY | Median List Price - YoY |
United States | 0.0% | -4.0% | 20 | -27.2% | -1.5% | -22.4% | 4.3% |
New York, NY | 19.2% | 2.2% | 44 | -5.8% | -5.4% | -24.7% | 3.4% |
Los Angeles-Long Beach-Anaheim, CA | 13.9% | -4.1% | 19 | -16.0% | -1.1% | -26.0% | 9.3% |
Chicago, IL | 11.6% | 0.2% | 17 | -15.2% | -6.3% | -22.7% | 0.2% |
Dallas-Fort Worth, TX | -3.3% | -0.6% | 29 | -27.4% | 0.4% | -16.0% | 0.4% |
Philadelphia, PA | 0.5% | -5.6% | 17 | -20.6% | -5.5% | -34.3% | 12.2% |
Houston, TX | -7.8% | -3.4% | 25 | -28.1% | 5.7% | -15.4% | 1.7% |
Washington, DC | 1.0% | 1.9% | 12 | -27.8% | -2.4% | -33.1% | 10.6% |
Miami-Fort Lauderdale, FL | 14.4% | 3.4% | 43 | -15.5% | -1.4% | -9.7% | -0.2% |
Atlanta, GA | -0.4% | -6.6% | 34 | -29.4% | -1.4% | -9.1% | 0.5% |
Boston, MA | 10.6% | 4.7% | 11 | -29.2% | -35.0% | -24.8% | 8.0% |
San Francisco, CA | 6.2% | 6.0% | 13 | 21.8% | -14.8% | -11.3% | 10.1% |
Detroit, MI | -8.9% | -5.1% | 11 | -23.5% | -4.4% | -23.0% | 4.1% |
Riverside, CA | -1.8% | -0.8% | 21 | -20.3% | 7.3% | -34.4% | 5.3% |
Phoenix, AZ | -14.4% | -9.4% | 24 | -17.0% | 5.7% | -24.8% | 8.6% |
Seattle, WA | 9.2% | 7.4% | 6 | -17.5% | -8.3% | -38.4% | 5.6% |
Minneapolis-St. Paul, MN | 3.8% | -4.1% | 18 | -15.7% | -17.4% | -19.2% | 4.0% |
San Diego, CA | N/A | N/A | 12 | -23.5% | -2.6% | -33.5% | 8.2% |
St. Louis, MO | 7.1% | 4.1% | 7 | -29.7% | -0.2% | -26.7% | 7.0% |
Tampa, FL | N/A | N/A | 24 | -17.8% | 1.6% | -23.4% | 2.0% |
Baltimore, MD | 5.4% | -1.6% | 18 | -24.6% | 8.2% | -38.8% | 4.2% |
Denver, CO | -0.1% | -2.5% | 9 | -27.5% | -13.6% | -20.4% | 5.9% |
Pittsburgh, PA | N/A | N/A | 10 | -11.6% | 0.9% | -24.4% | 13.3% |
Portland, OR | 5.6% | 6.0% | 8 | -26.6% | -6.7% | -24.6% | 1.8% |
Charlotte, NC | -2.7% | 1.3% | 11 | -33.7% | -3.4% | -30.0% | 5.2% |
Sacramento, CA | 11.9% | -1.9% | 13 | -26.9% | 2.6% | -23.5% | 2.7% |
San Antonio, TX | N/A | N/A | 31 | -27.3% | 1.0% | -11.8% | 2.3% |
Orlando, FL | N/A | N/A | 22 | -14.8% | 7.0% | -12.1% | 0.1% |
Cincinnati, OH | -2.4% | -8.8% | 5 | -19.8% | 4.5% | -31.3% | 17.2% |
Cleveland, OH | 0.7% | 3.3% | 15 | -25.8% | -3.0% | -35.7% | 9.9% |
Kansas City, MO | 1.3% | -5.8% | 5 | -32.2% | -7.2% | -32.7% | 12.1% |
Las Vegas, NV | -6.4% | -3.4% | 30 | -21.0% | 9.3% | -22.4% | 3.2% |
Columbus, OH | 5.8% | -8.2% | 6 | -33.1% | -5.5% | -29.6% | 7.1% |
Indianapolis, IN | -12.8% | -4.4% | 5 | -29.8% | -12.4% | -29.9% | 11.4% |
San Jose, CA | -19.8% | -14.6% | 20 | 25.7% | -16.1% | -26.4% | 7.0% |
Austin, TX | -10.9% | -9.9% | 10 | -20.8% | -1.1% | -18.2% | 9.4% |
Virginia Beach, VA | N/A | N/A | 56 | -11.8% | 6.0% | -32.7% | 9.4% |
Nashville, TN | N/A | N/A | 34 | -36.8% | -4.9% | -5.6% | 1.9% |
Providence, RI | -1.6% | 3.2% | 20 | -19.0% | -6.3% | -30.9% | 8.4% |
Milwaukee, WI | N/A | N/A | 30 | -12.2% | -6.8% | -12.9% | 6.9% |
Jacksonville, FL | -8.0% | -3.0% | 24 | -23.6% | 7.2% | -20.9% | 2.7% |
Memphis, TN | N/A | N/A | 9 | -25.6% | -5.6% | -32.4% | 10.2% |
Oklahoma City, OK | N/A | N/A | 11 | -20.4% | 3.4% | -22.2% | 10.5% |
Louisville, KY | 0.5% | 1.4% | 9 | -26.1% | 2.2% | -33.1% | 3.1% |
Hartford, CT | 0.1% | 1.0% | 9 | -23.1% | -7.0% | -37.0% | 8.8% |
Richmond, VA | N/A | N/A | 6 | -19.1% | 9.1% | -24.5% | 9.1% |
New Orleans, LA | -20.1% | -21.7% | 21 | -27.9% | 14.1% | -29.5% | 5.8% |
Buffalo, NY | 36.2% | 2.8% | 9 | -25.4% | -10.9% | -26.2% | 8.4% |
Raleigh, NC | 1.3% | 7.4% | 7 | -31.1% | 3.4% | -25.6% | 3.1% |
Birmingham, AL | -0.8% | -8.3% | 17 | -20.2% | -10.5% | -25.9% | 4.3% |
Salt Lake City, UT | 10.5% | -0.8% | 12 | -38.8% | -16.3% | -31.4% | 6.1% |
*Table ordered by market size |
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i The Zillow Weekly Market Reports are a weekly overview of the national and local real estate markets. The reports are compiled by Zillow Economic Research and data is aggregated from public sources and listing data on Zillow.com. Newly pending sales and new for-sale listings data reflect daily counts using a smoothed, seven-day trailing average. Total for-sale listings, days to pending and median list price data reflect weekly counts using a smoothed, four-week trailing average. For more information, visit www.zillow.com/research/.
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SOURCE Zillow