This Zillow Weekly Market Report includes housing market data as of the week ending June 20

 For-sale inventory took a step back last week as the rate of new home listings slowed, according to Zillow’s Weekly Market Reporti. Despite limited inventory, newly pending sales rose once again as buyer activity continues to be strong, and those sales are typically happening faster than they have since 2018.

Newly pending sales are up again, and homes are selling faster than they have in more than two years

  • Newly pending sales continue to grow, up 2.1% week over week and 13.7% month over month.
  • Among the 50 largest U.S. metros, newly pending sales rose the most from the previous week in Buffalo (+26.3%), San Jose (+19%) and Nashville (+14.4%).
  • U.S. homes are selling at their fastest pace in more than two years. Homes sold during the week ending June 20 typically stayed on the market for 21 days.

Inventory took another small hit last week

  • New for-sale listings fell 1.2% week over week, though they remain up 3% from a month ago.
  • Total inventory was down 0.6% from the previous week, and is now 18.8% lower than at the same time last year.

List prices continue to climb

  • The median list price in the U.S. grew 0.7% from the week prior to $335,160, and now sits 3.2% higher than a year ago.
  • List prices are higher than a year ago in 45 of the 50 largest U.S. markets, up as much as 15.8% year over year in Cincinnati.

Metropolitan Area*

Newly Pending Sales – MoM

Newly Pending Sales – WoW

New For-Sale Listings – YoY

New For-Sale Listings – WoW

Total For-Sale Listings – YoY

Median List Price – YoY

United States

13.7%

2.1%

-20.8%

-1.2%

-18.8%

3.2%

New York, NY

57.2%

8.8%

-10.7%

-0.7%

-27.0%

2.5%

Los Angeles-Long Beach-Anaheim, CA

35.2%

4.2%

-22.4%

0.7%

-25.3%

7.3%

Chicago, IL

29.5%

8.1%

-17.9%

1.0%

-21.0%

-2.0%

Dallas-Fort Worth, TX

4.4%

-3.4%

-21.3%

1.6%

-10.3%

-1.7%

Philadelphia, PA

37.9%

-4.8%

-12.6%

5.9%

-33.6%

11.6%

Houston, TX

5.1%

1.2%

-17.8%

3.2%

-8.9%

0.2%

Washington, DC

8.9%

3.8%

-25.4%

-4.3%

-31.2%

8.9%

Miami-Fort Lauderdale, FL

26.5%

4.5%

-5.2%

-3.0%

-9.7%

-0.4%

Atlanta, GA

-1.7%

-6.0%

-22.0%

1.4%

-2.9%

-1.7%

Boston, MA

26.2%

-3.0%

-17.1%

8.2%

-25.6%

6.1%

San Francisco, CA

26.0%

9.4%

-8.9%

-1.8%

-12.1%

7.6%

Detroit, MI

5.3%

5.5%

-13.4%

5.5%

-17.6%

0.6%

Riverside, CA

15.3%

-3.3%

-20.6%

4.9%

-29.1%

3.8%

Phoenix, AZ

12.1%

2.4%

-20.5%

-6.0%

-22.2%

6.7%

Seattle, WA

6.5%

-4.5%

-35.9%

-10.9%

-37.4%

4.1%

Minneapolis-St Paul, MN

16.2%

8.8%

-14.5%

0.9%

-14.9%

3.0%

San Diego, CA

N/A

N/A

-10.5%

8.2%

-29.6%

5.1%

St. Louis, MO

2.6%

1.8%

-29.5%

-2.3%

-24.5%

6.4%

Tampa, FL

N/A

N/A

-20.2%

0.0%

-16.9%

0.3%

Baltimore, MD

20.3%

-0.2%

-16.0%

8.1%

-35.8%

4.4%

Denver, CO

4.7%

3.1%

-9.0%

-3.0%

-14.0%

4.5%

Pittsburgh, PA

N/A

N/A

-7.1%

-3.9%

-19.4%

9.9%

Portland, OR

5.3%

-4.0%

-39.8%

-8.0%

-20.1%

0.7%

Charlotte, NC

-3.9%

-0.8%

-28.4%

7.9%

-24.0%

2.9%

Sacramento, CA

26.4%

-1.7%

-13.1%

7.8%

-17.8%

2.3%

San Antonio, TX

N/A

N/A

-23.7%

7.6%

-3.8%

1.1%

Orlando, FL

N/A

N/A

-21.6%

8.1%

-7.8%

-1.0%

Cincinnati, OH

-7.7%

-1.0%

-22.1%

10.8%

-27.7%

15.8%

Cleveland, OH

4.6%

0.4%

-15.6%

-2.6%

-35.3%

8.4%

Kansas City, MO

-7.2%

-8.8%

-14.6%

1.4%

-28.6%

9.7%

Las Vegas, NV

30.4%

9.6%

-22.3%

4.7%

-18.7%

1.8%

Columbus, OH

7.9%

-3.7%

-25.4%

-8.5%

-25.8%

6.1%

Indianapolis, IN

2.4%

3.0%

-28.7%

5.0%

-24.4%

8.3%

San Jose, CA

8.5%

19.0%

-11.3%

5.0%

-24.5%

2.6%

Austin, TX

12.5%

5.7%

-24.9%

6.5%

-9.0%

5.8%

Virginia Beach, VA

N/A

N/A

-25.4%

-3.7%

-30.4%

8.4%

Nashville, TN

14.3%

14.4%

-18.4%

7.3%

-1.7%

0.9%

Providence, RI

17.7%

0.5%

-28.0%

1.2%

-30.2%

7.1%

Milwaukee, WI

N/A

N/A

-17.6%

10.9%

-15.2%

7.8%

Jacksonville, FL

-6.2%

4.1%

-16.0%

-15.3%

-12.3%

0.2%

Memphis, TN

N/A

N/A

-28.5%

0.6%

-27.9%

8.5%

Oklahoma City, OK

N/A

N/A

-16.0%

6.2%

-17.4%

8.5%

Louisville, KY

3.4%

1.4%

-22.5%

-8.2%

-28.7%

3.1%

Hartford, CT

18.7%

-1.5%

-3.1%

2.6%

-35.7%

8.0%

Richmond, VA

N/A

N/A

-28.0%

-13.4%

-19.2%

7.9%

New Orleans, LA

8.9%

8.2%

-31.2%

10.1%

-22.5%

4.5%

Buffalo, NY

83.8%

26.3%

-16.6%

2.0%

-24.7%

6.7%

Raleigh, NC

-8.1%

5.1%

-14.7%

5.7%

-17.0%

1.9%

Birmingham, AL

-2.2%

-3.5%

-17.5%

1.4%

-21.1%

5.1%

Salt Lake City, UT

4.2%

-17.9%

-30.2%

-0.5%

-26.0%

4.3%

*Table organized by market size 

SOURCE Zillow

For further information: Alex Lacter, Zillow, press@zillow.com

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