Tag Archives: Redfin

Redfin's monthly report--based on home prices, sales, and inventory across 19 U.S. markets--shows prices rose 4.9 percent in April on a monthly basis and 16.1 percent on a yearly basis. Out of the 19 metros measured in Redfin's report, 18 reported month-over-month increases in April. "The housing market across the nation was hot again in April. Yes, home prices are up. But the big story in this month's report is that inventory posted its largest month-over-month increase in over three years," wrote Redfin blogger Tim Ellis.

While competition over available homes remains fierce in many areas around the country, the latest Bidding War Report from Redfin shows some markets cooled off a bit in April.

A shortage of homes on the market hamstrung home touring activity in April, but buyers still seem determined to get their offers in, according to Redfin. The brokerage's Real-Time Demand Pulse--a monthly analysis of tour and offer activity from homebuyers across 20 U.S. markets--shows tour requests and signed offers posted stronger monthly gains in April than they did at the same time last year. However, a lack of available homes "softened touring strength somewhat."

According to responses collected by Redfin, 45 percent of sellers believe now is a good time to sell, up from just 22 percent in the first quarter and 15 percent in last year's fourth quarter. At the same time, 44 percent say now is a good time buy, down from 54 percent last quarter. Having survived the slower cold season, homeowners were also a little more optimistic about future home price increases. Seventy percent of those surveyed expect prices will rise "a little" in their area in the next year, while 15 percent anticipate prices will rise "a lot."

The seasonal surge in home sales combined with another drop in listings to further drive up prices in March, Redfin observed in its latest Real-Time Price Tracker.

While rapid price gains have some analysts issuing warnings about a housing bubble in the making, newly released reports argue that a repeat of the 2008 crash is unlikely.

While inventory shortage has created myriad problems for buyers, they're apparently undeterred from their home searches, according to data from Redfin. The brokerage's Real-Time Demand Pulse for April (which examines March data) shows strong monthly gains in the number of Redfin customers touring homes and in the number of signed offers being made, indicating potential pickups in April and May sales. Redfin analyst Tim Ellis noted the struggle to find new listings "only seems to be strengthening the resolve of today's buyers."

Real estate agents are showing heightened optimism for housing as the market continues its swing toward sellers, Redfin observed in its latest Real-Time Agent Survey. According to brokerage's findings, the number of agents saying now is a good time to buy plummeted from 75 percent in Q3 2012 to just 57 percent in Q1 2013. At the same time, the number of agents saying now is a bad time to buy rose slightly, though the percentage is still low--5 percent in Q1 2013 compared to 2 percent in Q3 2012.

Prices rose in February for the 11th straight month as markets across the country picked up speed, according to Redfin's Real-Time Price Tracker.

Buyer demand continues to climb as 2013 marches on, according to results in Redfin's most recent Real-Time Demand Pulse.