Realtor.com® Weekly Recovery Report: Summer Buying Season Resists The Usual Fall Slowdown

Weekly data also shows a slight decline in housing demand as measured by buyer traffic

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Sep 10, 2020, 06:00 ET

SANTA CLARA, Calif., Sept. 10, 2020 /PRNewswire/ -- Summer home buying season continues to show resilience against the usual fall slowdown as prices continue to hit new highs and homes sell faster than ever before, according to realtor.com's^® Weekly Recovery Report for the week ending Sept. 5. At the same time, data also showed a slight decline in housing demand as well as a slowing of new listings declines, which, if sustained, could be a hopeful sign for weary buyers.

The realtor.com^® Housing Market Recovery Index reached 107.7 nationwide for the week ending September 5, 7.7 points above the pre-COVID baseline and an improvement of 1.5 points over last week. The buyer demand component of the index stayed well above its baseline, however, it declined by 3.3 points since last week. Meanwhile, the housing supply component showed improvement as it recovered 3.2 points above last week, but still remains below its pre-COVID baseline.

"Sellers are calling the shots in today's market; prices are rising and housing inventory is vanishing almost as fast as it appears," according to realtor.com^®'s Chief Economist, Danielle Hale. "But this week's report revealed two indicators worth keeping an eye on. Housing demand cooled slightly, while new listings showed a smaller decline than previous weeks. This could be a hiccup in weekly activity, or if these trends continue, they could signal a shift in market dynamics leading into the fall when political, economic, and health-related uncertainties abound."

Weekly listings data findings:

Median listing prices grew 10.8 percent year-over-year, the fastest pace of growth in more than two years. This marks the 17th consecutive week of price growth at or equal to the previous week's yearly pace -- a remarkable feat considering the economic backdrop.
New listings were down 12 percent. The new listings trend regained some momentum, after declining for three consecutive weeks. This will provide a slight relief for buyers who have found few options to choose from. However, the overall lack of sustained new listings growth could put a dent in Fall home sales despite resilient demand from home shoppers, because new listings are key to home sales.
Total inventory was down 39 percent. Buyers continue to be motivated by low mortgage rates and a strong desire for the certainty of ownership in an uncertain world. They're quickly putting offers on homes that come up for sale, driving the overall number of homes for sale lower.
Time on market is now 12 days faster than last year. With unusually high buyer interest this late in the homebuying season, buyers are moving much faster than this time last year to beat out competition and lock in low mortgage rates. This means homes are sitting on the market for much less time, despite notably higher price tags.

Listings data summary:

	Week ending Sep 5	Week ending Aug 29	Week ending Aug 22	First Two Weeks March
Total Listings	-39% YOY	-38% YOY	-37% YOY	-16% YOY
Time on Market	12 days faster YOY	10 days faster YOY	9 days faster YOY	4 days faster YOY
Median Listing Prices	+10.8% YOY	+10.6% YOY	+10.3% YOY	+4.5% YOY
New Listings	-12% YOY	-16% YOY	-13% YOY	+5% YOY

Rank	Metro	Recovery Index (Week Ending 9/5)	Recovery Index (Weekly Change)
1	Las Vegas-Henderson-Paradise, Nev.	131	8.5
2	Riverside-San Bernardino-Ontario, Calif.	118.9	4.5
3	Los Angeles-Long Beach-Anaheim, Calif.	117.8	4.5
4	Seattle-Tacoma-Bellevue, Wash.	116.6	-2
5	Baltimore-Columbia-Towson, Md.	114.5	4.5
6	Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.	114.4	-2.2
7	Phoenix-Mesa-Scottsdale, Ariz.	114	0.6
8	Austin-Round Rock, Texas	112.8	-0.2
9	Denver-Aurora-Lakewood, Colo.	112	-1.8
10	San Diego-Carlsbad, Calif.	111.6	-0.4
11	Virginia Beach-Norfolk-Newport News, Va.-N.C.	110.7	2.2
12	Washington-Arlington-Alexandria, DC-Va.-Md.-W. Va.	110.7	0.9
13	New York-Newark-Jersey City, N.Y.-N.J.-Pa.	110.5	-3.3
14	San Jose-Sunnyvale-Santa Clara, Calif.	110.1	-1.6
15	Portland-Vancouver-Hillsboro, Ore.-Wash.	109.5	-4.6
16	Sacramento--Roseville--Arden-Arcade, Calif.	109.3	4
17	Charlotte-Concord-Gastonia, N.C.-S.C.	109.2	1.4
18	San Antonio-New Braunfels, Texas	108.7	1.1
19	Miami-Fort Lauderdale-West Palm Beach, Fla.	108.2	2.2
20	Hartford-West Hartford-East Hartford, Conn.	107.6	2
21	Cincinnati, Ohio-Ky.-Ind.	107.5	1.1
22	Orlando-Kissimmee-Sanford, Fla.	107.4	1.8
23	Rochester, N.Y.	106.9	-5.1
24	Tampa-St. Petersburg-Clearwater, Fla.	106.6	0.8
25	Pittsburgh, Pa.	106.1	-1.4
26	Detroit-Warren-Dearborn, Mich	106.1	1.2
27	Louisville/Jefferson County, Ky.-Ind.	104.9	1.8
28	Kansas City, Mo.-Kan.	104.7	1.7
29	San Francisco-Oakland-Hayward, Calif.	104.7	-3.8
30	Memphis, Tenn.-Miss.-Ark.	104.5	2.3
31	Cleveland-Elyria, Ohio	104	1.2
32	Boston-Cambridge-Newton, Mass.-N.H.	103.9	-11.9
33	Dallas-Fort Worth-Arlington, Texas	103.5	1.4
34	Atlanta-Sandy Springs-Roswell, Ga.	103.3	2.6
35	Jacksonville, Fla.	103.2	2.5
36	Nashville-Davidson--Murfreesboro--Franklin, Tenn.	102.9	7.1
37	Houston-The Woodlands-Sugar Land, Texas	102.8	3.8
38	New Orleans-Metairie, La.	102.8	4.9
39	Columbus, Ohio	102	1.8
40	Oklahoma City, Okla.	101.3	6.6
41	Milwaukee-Waukesha-West Allis, Wis.	100.6	0.8
42	St. Louis, Mo.-Ill.	100.5	-2.4
43	Providence-Warwick, R.I.-Mass.	99.9	-4.8
44	Minneapolis-St. Paul-Bloomington, Minn.-Wis.	99.6	-6.3
45	Indianapolis-Carmel-Anderson, Ind.	99.3	1.5
46	Richmond, Va.	99.2	-2.5
47	Birmingham-Hoover, Ala.	98.2	-2.4
48	Chicago-Naperville-Elgin, Ill.-Ind.-Wis.	98	0.6
49	Buffalo-Cheektowaga-Niagara Falls, N.Y.	96.9	-13.8
50	Raleigh, N.C.	96.3	-5.5

Link to Weekly Stats Blog Post:
https://www.realtor.com/research/weekly-housing-trends-view-data-week-sep-5-2020/
Link to Index Commentary Blog Post: https://www.realtor.com/research/housing-market-recovery-index-trends-sep-5-data/

Methodology: The Weekly Housing Index leverages a weighted average of realtor.com® search traffic, median list prices, new listings, and median time on market and compares it to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market's index value, the higher its recovery and vice versa.

week_end_date	cbsa_code	cbsa_title	hh_rank	median_listing_price_yy	active_listing_count_yy	median_days_on_market_by_day_yy	median_days_on_market_yy	new_listing_count_yy	new_listing_share_yy	price_reduced_count_yy	price_reduced_share_yy
9/5/2020	35620	new york-newark-jersey city, ny-nj-pa	1	11.60%	-11.90%	-18	-23.70%	-14.30%	-0.20%	-46.90%	-2.20%
9/5/2020	31080	los angeles-long beach-anaheim, ca	2	18.10%	-28.10%	-3	-5.80%	-1.90%	3.40%	-48.80%	-2.00%
9/5/2020	16980	chicago-naperville-elgin, il-in-wi	3	7.20%	-34.70%	-7	-14.30%	-16.20%	2.50%	-47.10%	-1.90%
9/5/2020	19100	dallas-fort worth-arlington, tx	4	3.70%	-42.90%	-8	-14.60%	-12.40%	4.30%	-59.00%	-3.60%
9/5/2020	26420	houston-the woodlands-sugar land, tx	5	6.20%	-31.90%	-6	-10.30%	-10.10%	2.30%	-47.00%	-2.20%
9/5/2020	37980	philadelphia-camden-wilmington, pa-nj-de-md	6	16.50%	-43.70%	-20	-30.80%	-9.70%	4.50%	-55.20%	-2.10%
9/5/2020	47900	washington-arlington-alexandria, dc-va-md-wv	7	9.20%	-41.90%	-16	-34.80%	-3.60%	6.50%	-54.80%	-2.20%
9/5/2020	33100	miami-fort lauderdale-west palm beach, fl	8	1.90%	-13.30%	-6	-6.10%	1.70%	0.90%	-31.20%	-1.10%
9/5/2020	12060	atlanta-sandy springs-roswell, ga	9	9.90%	-44.90%	-9	-16.10%	-19.30%	3.80%	-54.00%	-1.70%
9/5/2020	14460	boston-cambridge-newton, ma-nh	10	16.50%	-40.40%	-14	-24.60%	-41.50%	-0.20%	-65.00%	-3.40%
9/5/2020	41860	san francisco-oakland-hayward, ca	11	7.10%	-12.60%	-2	-5.40%	-11.00%	0.30%	-29.60%	-1.40%
9/5/2020	19820	detroit-warren-dearborn, mi	12	11.70%	-45.20%	-8	-17.80%	-25.40%	3.40%	-59.10%	-2.50%
9/5/2020	38060	phoenix-mesa-scottsdale, az	13	3.90%	-41.20%	-14	-27.50%	3.60%	7.30%	-55.60%	-3.50%
9/5/2020	42660	seattle-tacoma-bellevue, wa	14	5.00%	-27.30%	-8	-18.60%	-64.60%	-6.40%	-82.80%	-6.90%
9/5/2020	33460	minneapolis-st. paul-bloomington, mn-wi	15	5.20%	-32.70%	-5	-11.60%	-19.50%	2.00%	-58.80%	-3.40%
9/5/2020	40140	riverside-san bernardino-ontario, ca	16	13.10%	-55.80%	-15	-25.90%	0.10%	9.50%	-71.40%	-3.00%
9/5/2020	45300	tampa-st. petersburg-clearwater, fl	17	6.80%	-43.00%	-8	-13.60%	-10.70%	4.20%	-48.90%	-1.30%
9/5/2020	41740	san diego-carlsbad, ca	18	4.80%	-43.40%	-6	-14.30%	-6.30%	6.50%	-53.10%	-1.90%
9/5/2020	41180	st. louis, mo-il	19	10.40%	-39.60%	-7	-10.60%	-21.10%	2.50%	-46.20%	-1.10%
9/5/2020	19740	denver-aurora-lakewood, co	20	7.20%	-40.50%	-7	-16.30%	-22.80%	3.30%	-56.70%	-3.90%
9/5/2020	12580	baltimore-columbia-towson, md	21	2.90%	-51.40%	-20	-35.70%	-1.10%	7.60%	-61.10%	-2.50%
9/5/2020	38300	pittsburgh, pa	22	25.00%	-34.90%	-10	-15.60%	-14.60%	2.30%	-33.80%	-0.10%
9/5/2020	38900	portland-vancouver-hillsboro, or-wa	23	6.20%	-44.60%	-6	-12.20%	-21.80%	3.80%	-29.90%	2.10%
9/5/2020	16740	charlotte-concord-gastonia, nc-sc	24	7.50%	-47.10%	-13	-23.60%	-10.20%	5.70%	-60.90%	-3.00%
9/5/2020	36740	orlando-kissimmee-sanford, fl	25	1.30%	-19.10%	-10	-14.90%	-4.90%	1.40%	-28.40%	-1.00%
9/5/2020	17460	cleveland-elyria, oh	26	12.30%	-51.50%	-9	-15.50%	-17.40%	5.50%	-57.40%	-1.60%
9/5/2020	41700	san antonio-new braunfels, tx	27	6.00%	-45.30%	-15	-22.70%	-10.20%	4.00%	-49.40%	-0.90%
9/5/2020	17140	cincinnati, oh-ky-in	28	17.90%	-47.60%	-11	-22.00%	-23.50%	4.20%	-50.20%	-0.80%
9/5/2020	40900	sacramento--roseville--arden-arcade, ca	29	9.50%	-51.20%	-10	-22.20%	0.80%	9.60%	-66.00%	-3.80%
9/5/2020	28140	kansas city, mo-ks	30	12.80%	-50.70%	-4	-7.40%	-25.60%	4.40%	-54.70%	-1.00%
9/5/2020	18140	columbus, oh	31	2.70%	-47.70%	-13	-29.60%	-13.60%	6.70%	-58.60%	-3.20%
9/5/2020	26900	indianapolis-carmel-anderson, in	32	16.30%	-63.20%	-3	-6.00%	-26.80%	6.90%	-57.40%	0.60%
9/5/2020	29820	las vegas-henderson-paradise, nv	33	7.60%	-10.10%	-13	-25.00%	23.00%	2.90%	-41.70%	-3.90%
9/5/2020	12420	austin-round rock, tx	34	12.80%	-45.80%	-16	-27.10%	-4.50%	5.70%	-63.10%	-4.00%
9/5/2020	34980	nashville-davidson--murfreesboro--franklin, tn	35	6.70%	-36.70%	-5	-13.50%	-7.00%	4.70%	-47.10%	-1.50%
9/5/2020	41940	san jose-sunnyvale-santa clara, ca	36	5.90%	-26.40%	-7	-16.70%	12.30%	5.30%	-37.30%	-1.80%
9/5/2020	47260	virginia beach-norfolk-newport news, va-nc	37	10.00%	-45.80%	-24	-38.10%	-2.30%	5.20%	-71.90%	-3.40%
9/5/2020	33340	milwaukee-waukesha-west allis, wi	38	7.10%	-43.30%	-4	-8.90%	-10.00%	5.60%	-50.40%	-1.70%
9/5/2020	39300	providence-warwick, ri-ma	39	10.50%	-53.90%	-10	-17.90%	-22.20%	6.00%	-69.90%	-2.70%
9/5/2020	27260	jacksonville, fl	40	3.00%	-39.90%	-11	-15.50%	-18.80%	2.50%	-49.00%	-1.50%
9/5/2020	36420	oklahoma city, ok	41	7.10%	-37.70%	0	0.00%	7.70%	5.20%	-48.40%	-1.90%
9/5/2020	31140	louisville/jefferson county, ky-in	42	4.90%	-50.10%	-13	-27.10%	-27.90%	4.30%	-58.70%	-2.00%
9/5/2020	32820	memphis, tn-ms-ar	43	11.30%	-51.10%	-11	-18.30%	-17.90%	5.10%	-47.90%	0.00%
9/5/2020	35380	new orleans-metairie, la	44	11.70%	-37.90%	-14	-18.20%	-25.10%	1.50%	-42.90%	-0.70%
9/5/2020	40060	richmond, va	45	10.50%	-46.90%	-5	-8.90%	-22.90%	3.90%	-62.20%	-2.50%
9/5/2020	39580	raleigh, nc	46	5.00%	-42.90%	-12	-21.10%	-24.60%	2.60%	-65.40%	-4.10%
9/5/2020	15380	buffalo-cheektowaga-niagara falls, ny	47	13.30%	-43.40%	0	0.00%	-20.50%	4.20%	-55.10%	-2.20%
9/5/2020	25540	hartford-west hartford-east hartford, ct	48	7.10%	-32.50%	-21	-32.80%	2.20%	3.10%	-63.70%	-3.30%
9/5/2020	13820	birmingham-hoover, al	49	5.70%	-37.90%	-9	-14.50%	-7.80%	3.50%	-47.90%	-1.20%
9/5/2020	40380	rochester, ny	50	10.60%	-42.50%	-13	-31.00%	-12.00%	5.20%	-64.30%	-3.40%
9/5/2020	46060	tucson, az	51	8.50%	-43.40%	-9	-16.70%	-6.20%	5.90%	-55.90%	-2.10%
9/5/2020	41620	salt lake city, ut	52	22.90%	-69.30%	-11	-26.20%	-28.30%	9.50%	-66.70%	-0.20%
9/5/2020	24340	grand rapids-wyoming, mi	53	8.30%	-49.60%	2	4.40%	-37.90%	2.40%	-61.40%	-2.20%
9/5/2020	46140	tulsa, ok	54	14.80%	-41.00%	-9	-15.50%	-16.80%	3.20%	-40.60%	-0.20%
9/5/2020	10580	albany-schenectady-troy, ny	55	15.30%	-42.10%	-15	-19.00%	-4.10%	4.30%	-53.30%	-1.50%
9/5/2020	10740	albuquerque, nm	56	18.20%	-50.20%	-7	-13.70%	-11.10%	6.50%	-52.30%	-1.00%
9/5/2020	36540	omaha-council bluffs, ne-ia	57	7.90%	-43.90%	8	21.60%	-7.70%	6.30%	-61.80%	-2.50%
9/5/2020	49340	worcester, ma-ct	58	11.30%	-56.90%	-23	-39.00%	-34.20%	4.80%	-77.90%	-4.40%
9/5/2020	28940	knoxville, tn	59	7.70%	-53.20%	-11	-16.90%	-23.40%	4.10%	-57.50%	-1.10%
9/5/2020	14860	bridgeport-stamford-norwalk, ct	60	-0.40%	-25.00%	-39	-41.10%	-2.60%	1.60%	-59.10%	-2.90%
9/5/2020	24860	greenville-anderson-mauldin, sc	61	3.50%	-38.80%	-10	-15.20%	-23.60%	1.80%	-46.20%	-1.00%
9/5/2020	35840	north port-sarasota-bradenton, fl	62	3.50%	-28.00%	-21	-23.90%	19.40%	3.70%	-29.00%	-0.30%
9/5/2020	35300	new haven-milford, ct	63	5.60%	-26.30%	-25	-37.30%	24.20%	3.70%	-62.00%	-3.40%
9/5/2020	19380	dayton, oh	64	14.30%	-46.70%	-10	-21.30%	-29.70%	3.20%	-43.10%	0.30%
9/5/2020	46520	urban honolulu, hi	65	-12.50%	27.80%	5	8.30%	-12.20%	-2.10%	-43.80%	-3.00%
9/5/2020	10900	allentown-bethlehem-easton, pa-nj	66	24.40%	-59.70%	-32	-45.70%	-15.20%	7.60%	-72.00%	-2.50%
9/5/2020	17900	columbia, sc	67	8.40%	-49.00%	-15	-26.30%	-16.50%	4.60%	-59.30%	-2.00%
9/5/2020	12940	baton rouge, la	68	12.10%	-32.80%	-1	-1.30%	-10.40%	1.80%	-44.70%	-1.40%
9/5/2020	24660	greensboro-high point, nc	69	16.20%	-47.40%	-9	-13.90%	-21.80%	4.00%	-46.70%	-0.20%
9/5/2020	23420	fresno, ca	70	5.90%	-57.90%	-20	-40.80%	-13.80%	9.30%	-65.30%	-2.00%
9/5/2020	16700	charleston-north charleston, sc	71	16.00%	-39.10%	-20	-24.10%	5.40%	4.10%	-51.10%	-2.30%
9/5/2020	30780	little rock-north little rock-conway, ar	72	18.30%	-49.40%	-19	-30.20%	-39.20%	1.50%	-40.80%	1.00%
9/5/2020	15980	cape coral-fort myers, fl	73	12.50%	-30.80%	-22	-22.50%	1.80%	2.60%	-31.40%	-0.20%
9/5/2020	10420	akron, oh	74	6.50%	-50.70%	-5	-10.20%	-27.50%	4.40%	-50.50%	-0.40%
9/5/2020	21340	el paso, tx	75	12.20%	-45.10%	-22	-32.40%	-32.80%	1.50%	-61.80%	-1.40%
9/5/2020	37100	oxnard-thousand oaks-ventura, ca	76	16.00%	-48.70%	-22	-43.10%	3.70%	7.80%	-72.80%	-4.20%
9/5/2020	17820	colorado springs, co	77	6.70%	-45.90%	-14	-28.00%	-8.80%	6.70%	-51.00%	-1.40%
9/5/2020	31540	madison, wi	78	2.90%	-45.60%	-3	-5.60%	-16.50%	4.30%	-47.80%	-0.70%
9/5/2020	12540	bakersfield, ca	79	19.70%	-47.20%	-15	-31.30%	-6.30%	6.40%	-56.80%	-1.70%
9/5/2020	49180	winston-salem, nc	80	9.80%	-46.60%	-16	-23.90%	17.10%	8.30%	-54.70%	-1.50%
9/5/2020	45060	syracuse, ny	81	8.60%	-43.80%	9	14.50%	-15.50%	4.00%	-53.70%	-1.60%
9/5/2020	19660	deltona-daytona beach-ormond beach, fl	82	4.90%	-40.60%	-18	-22.50%	-12.10%	3.00%	-55.30%	-2.00%
9/5/2020	14260	boise city, id	83	9.50%	-61.80%	-4	-9.50%	-17.30%	10.30%	-84.00%	-8.70%
9/5/2020	48620	wichita, ks	84	15.00%	-47.70%	-9	-16.10%	-5.90%	6.20%	-51.80%	-1.20%
9/5/2020	45780	toledo, oh	85	11.60%	-43.40%	-10	-18.50%	-12.90%	4.60%	25.20%	8.50%
9/5/2020	19780	des moines-west des moines, ia	86	0.10%	-34.00%	-9	-13.90%	-11.70%	2.40%	-26.50%	1.10%
9/5/2020	44140	springfield, ma	87	27.90%	-49.60%	-14	-23.70%	-19.10%	5.30%	-67.50%	-3.00%
9/5/2020	29460	lakeland-winter haven, fl	88	7.80%	-26.50%	-8	-12.10%	9.50%	3.70%	-40.20%	-1.50%
9/5/2020	37340	palm bay-melbourne-titusville, fl	89	6.00%	-39.60%	-11	-16.70%	-27.00%	1.70%	-49.40%	-1.60%
9/5/2020	32580	mcallen-edinburg-mission, tx	90	12.40%	-47.70%	-15	-16.00%	-10.40%	3.30%	-36.90%	0.50%
9/5/2020	25420	harrisburg-carlisle, pa	91	6.30%	-48.30%	-23	-39.00%	-3.40%	6.60%	-73.80%	-4.60%
9/5/2020	42540	scranton--wilkes-barre--hazleton, pa	92	21.30%	-53.80%	-23	-28.10%	-14.00%	4.70%	-61.50%	-1.40%
9/5/2020	12260	augusta-richmond county, ga-sc	93	6.40%	-46.40%	-20	-27.40%	-13.20%	4.30%	-34.10%	0.80%
9/5/2020	49660	youngstown-warren-boardman, oh-pa	94	9.10%	-55.40%	-16	-22.50%	-25.50%	4.30%	-59.40%	-1.10%
9/5/2020	44700	stockton-lodi, ca	95	10.10%	-60.60%	-3	-7.50%	-4.90%	12.30%	-80.30%	-5.80%
9/5/2020	20500	durham-chapel hill, nc	96	11.40%	-41.90%	-9	-13.60%	-7.40%	4.40%	-50.90%	-1.80%
9/5/2020	38860	portland-south portland, me	97	12.40%	-49.50%	-23	-35.40%	-0.80%	6.80%	-48.10%	-0.30%
9/5/2020	44060	spokane-spokane valley, wa	98	14.40%	-46.20%	-4	-9.10%	-9.30%	6.80%	-52.70%	-1.50%
9/5/2020	16860	chattanooga, tn-ga	99	13.80%	-48.90%	-15	-23.10%	-9.70%	5.00%	-55.80%	-1.30%
9/5/2020	27140	jackson, ms	100	23.50%	-44.20%	-11	-12.60%	-14.30%	3.10%	-34.80%	0.80%

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