Realtor.com’s Weekly Housing Trends Report shows more new listings than in previous weeks, which is a sign of the market beginning the recovery process.
The report shows that median list prices are beginning to come back and growth is nearing pre-pandemic levels. Sellers are returning to the market and new listings are down just 20% at this point. Although, not yet back to normal, the numbers are moving in the right direction.
Year-over-year asking prices in the top 100 metro areas are up 3.1% for the week ending May 23rd, which is up from 1.4% for the week ending May 9th.
“The Boston metro area a COVID hotspot is posting a median year-over-year listing price gain of 4.4 percent. Metros with double-digit gains included Los Angeles (16 percent), Pittsburgh (14 percent), and Dayton, Ohio (29 percent).”