The number of Redfin customers touring homes and making offers both dipped a bit more in May this year than over the same period last year, pointing toward a slight softening of sales volumes in June and July. This despite the fact that inventory improved in April, and will have improved again in May. Months of bidding wars and record-low inventory earlier this year has finally taken a toll on some buyers. Rising interest rates are likely discouraging some buyers as well.
For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Demand Pulse in Redfin’s Research Center.