Weekly Market Trends

Week of May 25th

OVERVIEW

For the week, new listing volume across the footprint was steady with last year. While Pennsylvania stayed strong at 111.7% of the same week a year ago, New Jersey was softer at 83.9%.

Contract volume improved for the seventh straight week. PA volume rose 27.6% from last week.

Showing volume achieved its best result since the week of March 2nd. Pennsylvania's activity gained 40.3% from last week.

Note : State-level charts can be found in the appendix.

2

Market Trends

Bright Footprint

1. Daily Inventory – “Coming Soon, Active and Temp Off”

2. Weekly “New Listings”

3. Weekly “New Purchase Contracts”

4. Weekly Number of Listings Changing to “Temp Off”

Status

5. Weekly Disposition of Temp Off Listings

6. Weekly Number of Listings Removed from the Market –

“Canceled and Withdrawn”

7. Weekly Composition of “Listings in a Non-final Status”

8. Weekly Disposition of “Purchase Contracts Falling

Through”

9. Weekly Number of “New Closed” Listings

10. Weekly Average Number of Days Between Purchase

Contract Date and Closing Date

11. Weekly Showing Activity

By State

1. District of Columbia

2. Delaware

3. Maryland

4. New Jersey

5. Pennsylvania

6. Virginia

7. West Virginia

Weekly Inventory – Coming Soon, Active and Temp Off

Volume remains consistent, as levels this week came in at 99.0% of last year and mostly flat week to week (-1.0%).

Weekly “New Listings”

New listing volume was basically even at 99.0% of last year.

Compared to last year, Pennsylvania’s new listing volume remained healthy at 111.7% of the same week a year ago.

However, New Jersey was softer, with inventory was 83.9% of a year ago.

Note: A New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts”

Contract volume continues to ramp up, gaining for the seventh straight week to a robust 103% of last year.

PA new contract volume roared back at 110.2% of the same week a year ago, up 27.6% from last week.

Note: A New Purchase Contract represents when a listing has been updated to either Active Under Contract or Pending. If a contract falls through, any subsequent contract is also counted.

Weekly Number of Listings Changing to Temp Off Status

T/O volume ticked up for the first time since late March, with the week at 106.0% of last year.

Pennsylvania volume rose 20.3% week to week, with activity at 117.4% of the same week in 2019.

Weekly Disposition of Temp Off Listings Entering a New Status

For the week, 21% of T/O status changes were to “Pending” – the highest since the week of March 9th.

In PA, this week saw 61.2% of T/O status changes move into “Active” – down from last week’s 80.7% surge to active. However, T/O to “Pending” rose to 21.8% from last week’s 7.7%

Weekly Number of Listings Removed from the Market – “Canceled and Withdrawn”

Withdrawn/canceled status change volume stayed below 2019 the same week, year-ago levels at 69.3%.

Weekly Composition of “Listings in a Non-Final Status”

Status by category was mostly flat week to week.

Note: Does not include final statuses of Closed, Canceled and Expired

Weekly Disposition of “Purchase Contracts Falling Through”

Similar to last week, 81.1% of contracts falling through last week returned to active status.

Weekly Number of “New Closed” Listings

For the last week of May, closed listing volume tracked at 68.6% of the same week in 2019 – lower than last month’s 76.2% for the final week of April.

Weekly Average Number of Days Between Purchase Contract Date and Closing Date

Week to week, the time from contract to closing was unchanged, up by 2.4 days from last year.

Weekly Showing Activity

Showing volume claimed its highest level since the week of March 2nd, with activity at 126.3% of the same week a year ago.

Pennsylvania’s volume remained robust. Showings paced at 121.4% of the same week in 2019 and rose 40.3% week to week.

Note: Confirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

Appendix

COVID-19 Market TrendsDistrict of Columbia

Weekly “New Listings” for DCA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for DCA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for DC

Weekly Composition of “Listings in a Non-final Status” for DC

Weekly Number of “New Closed” Listings for DC

Weekly Showing Activity for DCConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsDelaware

Weekly “New Listings” for DEA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for DEA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for DE

Weekly Composition of “Listings in a Non-final Status” for DE

Weekly Number of “New Closed” Listings for DE

Weekly Showing Activity for DEConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsMaryland

Weekly “New Listings” for MDA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for MDA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for MD

Weekly Composition of “Listings in a Non-final Status” for MD

Weekly Number of “New Closed” Listings for MD

Weekly Showing Activity for MDConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsNew Jersey

Weekly “New Listings” for NJA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for NJA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for NJ

Weekly Composition of “Listings in a Non-final Status” for NJ

Weekly Number of “New Closed” Listings for NJ

Weekly Showing Activity for NJConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsPennsylvania

Weekly “New Listings” for PAA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for PAA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for PA

Weekly Composition of “Listings in a Non-final Status” for PA

Weekly Number of “New Closed” Listings for PA

Weekly Showing Activity for PAConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsVirginia

Weekly “New Listings” for VAA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for VAA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for VA

Weekly Composition of “Listings in a Non-final Status” for VA

Weekly Number of “New Closed” Listings for VA

Weekly Showing Activity for VAConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.

COVID-19 Market TrendsWest Virginia

Weekly “New Listings” for WVA New Listing is only counted once upon publishing as either Coming Soon or Active.

Weekly “New Purchase Contracts” for WVA New Purchase Contract represents when a listing has been purchased and updated to either Active Under Contract or Pending. If a purchase contract falls through, any subsequent purchase contract is also counted.

Weekly Number of Listings Changing to “Temp Off” Status for WV

Weekly Composition of “Listings in a Non-final Status” for WV

Weekly Number of “New Closed” Listings for WV

Weekly Showing Activity for WVConfirmed Showings are showing appointments that were confirmed through Showing Time as an in person showing. We do not know if they actually went to the appointment.