Home Offers and Tours Surge in the New Year

by Tim Ellis | 9 Comments

The Redfin Real-Time Demand Pulse: a monthly analysis of tour and offer activity from thousands of home buyers across 20 U.S. markets, months in advance of completed sales, and the only report in the industry that analyzes offer and tour data.

February 2013 Redfin Real-Time Demand Pulse (January data)

While December may have ended with mixed signals, January got 2013 off to a strong start from a demand perspective, with both tours and offers growing at a more rapid pace than a year earlier. The number of customers writing offers rose an astounding 70% between December and January, blowing last year’s 59% increase out of the water. 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.

For additional data, feel free to download the spreadsheet if you’d like to dig into the January data for yourself.

Buyers Making Offers to Buy a Home

Customers Signing Offers with Redfin Agents

Redfin Customers Signing Offers 2012 2013
January 6 – February 2 vs. Four Weeks Prior +58.5% +70.4%
January 27 – February 2 vs. Prior Week +12.1% +22.4%

Buyers Touring Homes for Sale

Customers Touring Homes with Redfin Agents

Redfin Customers Requesting Tours 2012 2013
January 6 – February 2 vs. Four Weeks Prior +52.0% +57.9%
January 27 – February 2 vs. Prior Week -1.2% +5.0%

The full Demand Pulse index data is available for download in a spreadsheet, where you can check out four years worth of trends.

Be on the lookout next week for the Redfin Real-Time Home Price Tracker, the industry’s earliest report on what happened to real estate prices around the nation in the month of December.

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