Homebuyer Demand Takes Off in January with Home Offers Up 70%, Tours up 58% in Redfin Real-Time Demand Pulse

SEATTLE, Feb. 6, 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 offer and tour data. The report showed:

  • Customers signing offers increased 70.4 percent in January, compared with an increase of 58.5 percent a year earlier.
  • Customers requesting home tours were up 57.9 percent in January, compared with an increase of 52.0 percent in 2012.

January 6 through February 2 vs. Four Weeks Prior

2012

2013

Home Offers

+58.5%

+70.4%

Home Tours

+52.0%

+57.9%

The increase in homebuyer demand seen in January paired with a nation-wide inventory shortage has created an extreme seller's market as we head into the spring home-buying and selling season. Particularly in Redfin's Southern California markets, bidding wars involving thirty or more offers have become increasingly common. With no signs that homebuyer demand will let up any time soon, all eyes are on the nation's homeowners, builders and banks to list their homes for sale, providing some relief from this chaotic market.

Click or paste the following link to read the complete Redfin Real-Time Demand Pulse. http://blog.redfin.com/?p=11757

About this Report
The Redfin Real-Time Demand Pulse is a monthly analysis of thousands of customers touring homes and signing offers in twenty markets across the United States. Redfin is the only major real estate broker storing data in one location about its agent tours and offers, enabling the company to project sales volume for the U.S. without waiting 30 – 45 days for sales to close, or an additional 15 - 30 days for them to be recorded as public record.

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 20 U.S. markets and has closed more than $5 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 blog.redfin.com, on Twitter @redfin, and Facebook.com/Redfin.

SOURCE Redfin Corporation



RELATED LINKS
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