Redfin: Demand Presents a Mixed Bag in December

December saw mixed signals in terms of housing demand, according to ""Redfin's"":http://www.redfin.com/home latest Real-Time Demand Pulse, a measure of offer and tour data from thousands of customers in 18 markets nationwide.

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According to the data, the number of customers requesting home tours fell 7.0 percent in December. While a decline in tour requests is normal for this usually slow season, buyer interest proved stronger in 2012 than it did in 2011, when tours declined 11.3 percent.

The matter of signed offers, however, was a different story. According to Redfin, the number of customers signing offers dropped 17.5 percent in the last month of 2012--a dramatic decline compared to 2011's 10.5 percent decrease.

While the year-over-year increase in tour requests shows demand didn't fizzle in December, it does seem to indicate that buyers weren't particularly impressed with what they saw, Redfin blogger Tim Ellis says.

""It seems that the few buyers who were willing to spend their holidays house hunting were hopeful as they toured homes for sale, but ended up disappointed in what they found, leading to offers falling faster than a year ago,"" Ellis ""writes"":http://blog.redfin.com/blog/2013/01/home_offers_and_tours_come_in_weak_at_the_close_of_2012.html. ""January will set the tone for 2013, so we'll be keeping an especially keen eye on the data this month.""

With buyer demand relatively high, the market will need more sellers putting out a greater variety of homes--a problem that will soon take care of itself, Redfin says.

""With mortgage rates and home prices still relatively low, Redfin expects strong demand to intensify even further in 2013,"" the company said in a release. ""The company also anticipates that inventory will increase in 2013, as confidence in the housing market draws previously reluctant sellers to list their home and look for a new one.""