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Weekly Housing Trends: Week of December 4, 2021

Weekly Housing Trends: Week of December 4, 2021

What this Week’s Data Means:

After dipping during Thanksgiving week, newly listed homes rebounded rapidly last week but were still less than year-ago levels. As a result, the hallmarks of a competitive market persist even as some indicators moved in a buyer-friendly direction. Typical asking prices rose 9.0%, and homes sold 9 days faster than this time last year. The number of homes for sale remains lower than this time last year, but the gap narrowed slightly this week to 26%.

Looking forward, the covid-19 omicron variant could extend existing housing trends. Any impact is likely to be temporary and small, and similar to the delta variant’s effect concentrated on sellers. According to® 2022 Housing Market Forecast and Predictions, housing inventory in next year is likely to be slightly improved but remain scarce (up 0.3% year-over-year), prices will stay high, but the growth in them will slow (up 6.6% year-over-year), and the popularity of the suburbs will endure.


Key Findings: