Each month, Redfin captures homebuyer demand by tracking the number of home tours requested and offers made by its customers across the country. In August, both home tours and offers continued to decline steadily. Homebuyer demand typically falls from July to August; this year, however, the drop in demand was more pronounced. Here’s what we are seeing across the 22 markets that Redfin serves:
- For Redfin customers requesting home tours, August saw a 10% month-over-month drop compared to a 6.0% drop in August 2012. Week over week, tours were down 9.5% compared to a 1.9% drop in 2012.
- Offers from Redfin customers this August also dropped, falling 7.5% since July compared to a 4.3% drop in the year before. Week over week, offers were down 0.9% from July compared to a 0.7% gain in 2012.
For the full report, visit the Redfin Research Center.