Due to the ongoing situation with Covid-19, we are offering 3 months free on the agent monthly membership with coupon code: COVID-19A
With an RE Technology membership you'll be able to view as many articles as you like, from any device that has a valid web browser.
Purchase AccountRE Technology lets you freely read 5 pieces of content a Month. If you don't want to purchase an account then you'll be able to read new content again once next month rolls around. In the meantime feel free to continue looking around at what type of content we do publish, you'll be able sign up at any time if you later decide you want to be a member.
Browse the siteDecember 06 2020
Home prices rose 16% from a year earlier, and new listings were up 9%
SEATTLE, Dec. 4, 2020 -- The median home sale price increased 16% year over year to $322,828, the highest on record, according to a new report from Redfin, 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.
"Sellers took the week off for Thanksgiving, but buyers were still out there searching for homes despite the lack of new listings," said Redfin chief economist Daryl Fairweather. "Sellers continue to be in the driver'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't get any bites from buyers will give up and take their homes off the market."
To view the full report, including charts and methodology, please click here.
About Redfin
Redfin is a technology-powered residential real estate company, redefining real estate in the consumer'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's #1 real estate brokerage search site, offering a host of online tools to consumers, including the Redfin Estimate. We represent people buying and selling homes in over 90 markets in the United States and Canada. Since our launch in 2006, we have saved our customers over $800 million and we've helped them buy or sell more than 235,000 homes worth more than $115 billion.