July Home Offers Dead Flat; Tour Requests up 3 Percent in Redfin Real-Time Demand Pulse
Real Estate Brokerage Predicts August and September Closings Up Modestly Year Over Year
SEATTLE, Aug. 3, 2012 /PRNewswire/ -- Technology-powered real estate broker Redfin issued its second Real-Time Demand Pulse, the only report in the industry that analyses offer and tour data. The report showed that signed home offers from its customers were flat for the first four weeks of July compared to the four weeks prior. The number of customers requesting home tours increased more than 3 percent over the same time-frame. Last year at this time, offers declined 2.2 percent and tours were up 5.6 percent.
Based on this information, Redfin expects U.S. home sales in August and September to increase modestly compared to last year.
"Redfin tour and offer volume in July showed predictable seasonal slowing, but 2012 continues to outperform 2011," said Tim Ellis, Redfin's Real Estate Analyst. "Based on our early indicators of home sales demand, we expect August to come in strong, with some slight declines to follow in September."
The complete Redfin Real-Time Demand Pulse is available at:
The Redfin Real-Time Demand Pulse is a monthly analysis of thousands of customers touring homes and signing offers in eighteen markets across the United States. Redfin is the only major real estate broker storing data in one location about its agent tours and offers, enabling the company to project sales volume for the U.S. without waiting 30 - 45 days for sales to close, or an additional 15 - 30 days for them to be recorded as public record.
Redfin (www.redfin.com) is a technology-powered real estate broker that represents people buying and selling homes. Founded and run by technologists, Redfin has a team of experienced, full-service real estate agents who are advocates, not sales-people, earning customer-satisfaction bonuses, not commissions. Redfin's online tools feature all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. The company serves 19 U.S. markets, and has closed more than $5 billion in home sales. Follow us on blog.redfin.com or our Twitter feed @redfin.
SOURCE RedfinBack to top