Press release
Realtor.com® December Housing Report: 2021 Homebuying Frenzy Concludes with Double-Digit Price Growth
December listing prices accelerated 10.0% year-over-year nationally and at an even faster pace in more than one-quarter of large metros, led by Las Vegas
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[{"type":"text","content":"December listing prices accelerated 10.0% year-over-year nationally and at an even faster pace in more than one-quarter of large metros, led by Las Vegas (+32.4%) and Austin (+28.8%)\n\n\nSANTA CLARA, Calif., Jan. 6, 2022 /PRNewswire/ -- Colder weather may be settling in, but new housing data suggests the winter market is heating up, as looming mortgage rate hikes motivate more buyers to search for a home despite limited options. U.S. listing price growth renewed its momentum in December, with the annual pace returning to the double-digit territory seen throughout the past year's ultra-competitive spring and summer seasons, according to the Realtor.com® Monthly Housing Report released today.\n\"December data offers a fitting finish to the frenzy of the past year. Annual listing price growth hit double-digits again nationwide and in many of the hottest markets, after four months of single-digit pace this fall,\" said Realtor.com® Chief Economist Danielle Hale. \"Despite buyer challenges like rising prices, limited inventory and fast-paced sales, real estate activity maintained a brisk pace throughout 2021 as factors like low mortgage rates enabled home shoppers to persist. With rate hikes now on the horizon, buyers may be trying to get ahead of higher monthly housing costs, in turn driving up competition and prices. Our 2022 Forecast anticipates affordability challenges this year, but also that trends like rising incomes and workplace flexibility could offer some Americans a better shot at finding a home. For those who weren't successful in 2021, we expect better luck in the coming months as more sellers plan to enter the market – and if December's listings are an indication, with high asking prices in mind.\"\nDecember 2021 Housing Metrics – National\nMetric\nChange Over Dec. 2020\nChange Over Dec. 2019\nActive Listing Count\n-26.8%\n-57.1%\nNew listings\n-6.1%\n-6.9%\nMedian Listing Price\n10.0% (to $375,000)\n25.0%\nMedian Listing Price Per Square Foot\n13.3%\n32.4%\nMedian Days on Market\n-11 days (to 54 days)\n-26 days\nPrice Adjusted Share1\n0.1%\n-0.4%\nSeller's market gains fresh momentum as annual home price growth hits double-digitsThe mismatch between demand and the limited for-sale home supply continues to be a major factor in rising home prices. Buyers remained active throughout 2021 despite months of yearly inventor...