Homebuyer Interest Off to Strong Start in 2013 02/08/2013 By: Tory Barringer

Homebuyer interest got off to a strong start in 2013, according to Redfin’s Real-Time Demand Pulse for February.

The report, which reflects data for January, shows the number of Redfin customers requesting home tours rose 57.9 percent in January, up from 52.0 percent at the same time in 2012.

January’s monthly increase is a turnaround from December’s slump, which saw a 7.0 percent decline in customers requesting tours—however, even that figure was relatively strong compared to the prior year.

More surprising to Redfin was the rapid rise in customers signing offers. According to January data, signed offers increased 70.4 percent from December, “blowing last year’s 59 percent increase out of the water.” December’s data revealed a 17.5 percent month-over-month decline in customers signing offers, making January’s increase all the more dramatic.

“Although there may not be a lot of new listings to choose from, it seems that buyers are not hesitating to jump into the market this year,” Redfin blogger Tim Ellis wrote.

“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,” Redfin observed in a release. “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.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s