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The August Monthly Housing Trends report from realtor.com® reveals a robust housing market, with the median listing price reaching a record $350,000, a 10% increase from last year. Home inventory decreased by 36% year-over-year, leading to heightened competition among buyers. Averaging 56 days on the market, homes are selling 5 days faster than in 2019. Notably, 49 of the 50 largest metro areas experienced price gains, with Philadelphia seeing the highest increase of 18.6%. Despite the surge in prices, demand continues to exceed supply, hinting at sustained buyer interest.

In realtor.com®'s Weekly Recovery Report for the week ending Aug. 22, 2020, home sales are accelerating, with properties selling nine days faster than last year. Despite a 37% drop in national inventory, buyer demand remains strong, creating a seller's market characterized by bidding wars. The Housing Market Recovery Index rose to 106.6, indicating growth above pre-COVID levels. Notably, median listing prices increased by 10.3% year-over-year, marking the fastest growth since January 2018. However, new listings fell by 13%, indicating potential challenges for future supply.

Realtor.com has integrated flood risk information for properties available for sale and off-market, utilizing data from the First Street Foundation. This innovative feature, which rates flood risk on a scale from 1 to 10 over a 30-year mortgage, aims to empower consumers by providing essential insights into flood zones. The model is based on extensive research and collaboration with over 80 experts. Homebuyers can now access this data to make informed decisions, potentially avoiding surprises during the closing process. The flood risk information is accessible on realtor.com across web and mobile platforms.

The New York Post has announced a new partnership with Jalen Rose, media personality and NBA icon, to launch a multi-platform content program called The Renaissance Man. This program will debut in fall 2020 and include a weekly column, video series, and podcast, covering topics such as sports, entertainment, and healthy living. The partnership aims to engage the Post's audience of over 100 million and deliver innovative content. CEO Sean Giancola emphasized Rose's influence and experience, while Rose expressed excitement about celebrating culture through this collaboration.

Realtor.com has released its 2020 Hottest ZIP Codes report, highlighting a shift in demand toward East Coast markets. The top 10 hottest ZIP codes, led by Colorado Springs, Colo., are favored by millennials seeking affordable housing and space due to rising urban costs. Homes in these areas sell 51 days faster than the national average, with millennials achieving a 53% homeownership rate. The report indicates that these markets are less dense and offer desirable amenities, reflecting a post-pandemic trend of migration from urban centers.

The realtor.com® Weekly Recovery Report, dated August 13, 2020, highlights a significant recovery in the U.S. housing market, with new listings growth surpassing pre-pandemic levels for the first time since January 2020. The Recovery Index increased to 105.6, indicating a 5.6-point rise above pre-COVID benchmarks. While new listings are down 6% year-over-year, the pace of sales is improving, with homes selling 4 days faster than last year. Median listing prices rose by 9.9%. However, total inventory decreased by 36%, keeping demand and price pressure high.

The COVID-19 pandemic has reshaped the U.S. housing market, increasing interest in suburban properties as home shoppers look beyond their current metro areas. According to realtor.com®'s Cross Market Demand Report, 51% of urban residents are now searching for suburban homes. The trend shows buyers seeking more space and affordability, particularly in the Northeast and parts of the West. However, interest in larger metros like Miami and Dallas declined in July amid rising COVID-19 cases. This suggests a shift in buyer behavior influenced by remote work policies and changing preferences.

The housing market in the U.S. is experiencing a rebound as the usual May peak shifts to August, according to realtor.com®'s Weekly Recovery Report. For the week ending Aug. 1, the Housing Market Recovery Index reached 103.8, up 0.1 points from the previous week, indicating growth despite lower inventory levels. Median listing prices rose 9.4% year-over-year, with homes selling 4 days faster than last year. However, new listings declined by 11%, and total inventory is down 35%, leading to concerns about sustainability as COVID-19 cases may resurge.