Zillow Weekly Market Report: Data Through July 4, 2020
Despite a dip in newly pending sales, homes are flying off the market at a record pace and inventory remains incredibly scarce.
Market Trends
Mortgage Rates Remain at All-Time Lows, Pricing In Coronavirus Impacts
Mortgage rates ticked down just slightly this week and remain at all-time lows, continuing the trend of the past two weeks.
New Listings of High-End Homes Surge to Near Year-Ago Levels, Reversing an Early Spring Trend
In some large markets, including New York, Miami and San Francisco, new listings of pricier homes as of June 20 were higher than year-ago levels.
Mortgage Rates Hit Another Record Low Under Weight of Mounting Coronavirus Cases
Mortgage rates fell back to all-time lows this week as the market continues to weigh the economic risks posed by recent surges in COVID-19 case counts.
April Case-Shiller Results and May Forecast: Housing Continues to Cruise
The S&P CoreLogic Case-Shiller U.S. National Home Price Index® rose 4.7% year-over-year in April (non-seasonally adjusted), up from 4.6% in March.
LGBTQ+ Buyers & Renters Face More Challenges, Costs when Searching for a Home
Many of the housing challenges faced by LGBTQ+ households in general are even more extreme for LGBTQ+ home buyers and renters of color.
Homes Are Being Snatched Off the Market at Their Fastest Pace in 2 Years
Homes sold in the U.S. during the second week of June typically stayed on the market for 22 days, the fastest pace since June 2018.
Mortgage Rates Stable as Investors Wait on Coronavirus Data
For now, a stable week in rates suggests that investors are waiting to react until they see more definitive coronavirus data from emerging hotspots.
May New Home Sales: Poised for Continued Improvement
May new home sales were up 16.6% from April and 12.7% from May 2019, to 676,000 (SAAR), according to the U.S. Census Bureau.
May Existing Home Sales: A Measurement from a Different Time
May existing home sales were down 9.7% from April and 26.6% from a year ago, to 3.91 million sales, according to the National Association of Realtors.
