Homebuyer Demand in April still Growing Despite Inventory Shortage with Tours Up 0.6%, Offers Up 7.0% in Redfin Real-Time Demand Pulse Increased Home-buying Activity Suggests a Lift in May and June Home Sales

SEATTLE, May 8, 2013 /PRNewswire/ -- Redfin (www.redfin.com), the technology-powered real estate broker, today issued its Real-Time Demand Pulse, the only report in the industry that analyzes home tour and offer data. The report showed:

  • The number of customers touring homes increased 0.6% from March, compared to a 0.3% drop in tours from March to April 2012.
  • Home offers were up 7.0% from March, compared to a 4.4% rise during the same period last year.
  • The last week of April saw tours up 4.1% week-over-week compared to a 2.4% increase in the last week of April 2012. Offers posted a 6.4% week-over-week gain last week, compared to a 3.6% gain last year.  

March 31 – May 4 Vs. Four Weeks Prior

2012

2013

Home Tours

-0.3%

+0.6%

Home Offers

+4.4%

+7.0%

The gains in home tours and offers in April point toward an increase in sales volumes in May and June. The 0.6 percent increase in tours still pales in comparison to the 9.1 percent year-over-year gain seen last month. The relative softening in demand is likely a result of the inventory shortage persisting across Redfin's 21 markets. Despite having a very limited selection of homes to tour, homebuyers expressed their determination to buy a home this year through a monthly growth in offers 2.6 percentage points higher than last year's increase. 

To access the full report on Redfin's blog, click or paste the following link. http://blog.redfin.com/blog/2013/05/real-time-demand-pulse-2013-05.html.

About Redfin
Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 21 U.S. markets and has closed more than $8 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on our blog (blog.redfin.com), Twitter (@redfin), and Facebook (facebook.com/redfin), Redfin Collections (www.redfin.com/collections), and on our mobile apps (www.redfin.com/mobile). 

SOURCE Redfin Corporation



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