Housing activity remained elevated going into Thanksgiving with buyers and sellers largely unfazed by coronavirus disruptions. The realtor.com Housing Market Recovery Index remained steady at 110.6 nationwide for the week ending November 21st, well above the pre-COVID baseline and down only 0.1 points over the prior week.

The ‘housing demand’ component – which tracks growth in online home searches – decreased to 118.9, down 7.9 points over last week. Despite showing hints of deceleration, the backlog of buyers continues to grow faster than it did pre-pandemic. Effectively, most sellers aren’t having trouble finding buyers, an advantage that’s unlikely to disappear before the end of year.