Redfin is publishing today The Redfin Real-Time Home Price Tracker, the U.S.’s first broad analysis of prices each month; this is the only report that combines data from the local Multiple Listing Services used by real estate agents to list homes and record sales, as well as public records data.
Across 19 major metropolitan markets, June prices increased 3.0% year over year, and 2.6% month over month. The number of homes for sale declined 25.3% from June 2011 to June 2012, and by 2.4% since May. Sales increased 4.3% over last year, but actually slipped 1.1% since May. The percentage of listings that sold within 14 days of their debut remained steady since May at 28.5%.
Together with Redfin’s other Real-Time Reports, the Price Tracker describes a strengthening market :
- Redfin’s Real-Time Home-Buyer Survey, based on data collected from nearly 1,500 active home-buyers, found that 58% of buyers believe 2012 prices will rise, up from 34% only three months prior.
- Redfin’s Real-Time Demand Pulse, based on thousands of tour requests and signed offers from Redfin’s own customers, reported that the number of Redfin customers touring properties actually increased 2% from May to June, at a time of year when touring typically begins to decline.
For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Price Tracker in Redfin’s Research Center.