December Home Tours Down 7%, Offers Down 18% in Redfin Real-Time Demand Pulse

SEATTLE, Jan. 7, 2013 /PRNewswire/ -- Redfin (www.redfin.com), the technology-powered real estate broker, today issued its Real-Time Demand Pulse, the only report in the industry that analyzes offer and tour data. The report showed:

• Customers requesting home tours were down 7.0 percent in December, compared to a decrease of 11.3 percent in 2011.
• Customers signing offers decreased 17.5 percent, compared to a decrease of 10.5 percent a year earlier.

December is typically a slow month for residential real estate, as people take their homes off the market to celebrate the holidays with their families, and homebuyers take a break in anticipation of new listings in the New Year. The fact that touring activity decreased to a lesser extent than last year shows that demand remains somewhat strong. However, the lack of selection sent the number of offers tumbling at a higher rate than in December 2011. With mortgage rates and home prices still relatively low, Redfin expects strong demand to intensify even further in 2013. The company also anticipates that inventory will increase 2013, as confidence in the housing market draws previously reluctant sellers to list their home and look for a new one.

Click or paste the following link to read the complete Redfin Real-Time Demand Pulse. http://blog.redfin.com/?p=10390

About this Report
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.

About Redfin

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. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider. Follow us on blog.redfin.com, on Twitter @redfin, and Facebook.com/Redfin.

SOURCE Redfin

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