|March 27, 2018|
|Redfin Housing Demand Index Fell 14 Percent from January to February as Ongoing Supply Shortage Crimped Homebuyer Activity|
The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. The Demand Index is adjusted for Redfin's market share growth. A level of 100 represents the historical average for the three-year period from
"There are still plenty of people touring homes; there just aren't enough of homes to satisfy all the buyers who want to make offers," said Redfin head of analytics
From January to February, the seasonally adjusted number of buyers requesting home tours fell by 12.4 percent, while the number of buyers making offers fell 18.0 percent.
Looking at year-over-year comparisons, the Demand Index declined 6.5 percent from
February marked 33 consecutive months of declining home supply across the 15 metros covered by the Demand Index, with 13.6 percent fewer homes for sale than a year earlier. The inventory shortage, paired with strong demand, has driven rapid home-price appreciation.
To read the full report, including metro-level demand charts, please visit: https://www.redfin.com/blog/2018/03/redfin-housing-demand-index-fell-14-percent-from-january-to-february-as-ongoing-supply-shortage-crimped-homebuyer-activity.html
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
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Redfin Journalist Services: Jon Whitely, 206-588-6863, firstname.lastname@example.org