|April 24, 2018|
|Redfin Housing Demand Index Fell 6.5% From February to March as Fewer Homes Hit the Market|
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
"Abnormally late winter weather and an early Easter likely delayed homeowners planning to list their homes for sale in March," said Redfin chief economist
From February to March, the seasonally adjusted number of buyers requesting home tours increased 2.6 percent, while the number of buyers making offers fell 14.7 percent.
Looking at year-over-year comparisons, the Demand Index declined 3.8 percent from
Across the 15 metros covered by the Demand Index, the number of homes for sale fell 13.6 percent year over year in March, the 34th consecutive month of falling supply. There were 7.3 percent fewer homes newly listed for sale last month than a year earlier.
However, an early read of inventory in the first half of April suggests that the number of homes for sale is increasing in line with seasonal expectations. And as recently as last week, the
To read the full report, including metro-level demand charts, please visit: https://www.redfin.com/blog/2018/04/redfin-housing-demand-index-fell-6-5-from-february-to-march-as-fewer-homes-hit-the-market.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, Redfin Journalist Services: Jon Whitely, 206-588-6863, email@example.com