August Offers Decline Only 4%, Solidifying Housing Gains into the Fall

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Early signals from Redfin’s Real-Time Demand Pulse indicate that regardless of what’s happening in the broader economy, housing prices will keep getting better. The number of Redfin clients making offers fell just 4 percent in August–an improvement of nearly ten percentage points compared to the same period a year ago.

The number of offers placed by Redfin clients continued to outpace 2011 in August 2012, while tours followed roughly the same trajectory as last year. Taken together, these trends indicate that the strength the market has seen this summer will continue into the fall.

For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Demand Pulse in Redfin’s Research Center.

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tim-ellisredfin-com

Senior Data Journalist / Real Estate Analyst

Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website Seattle Bubble, and produces the "Dispatches from the Multiverse" improvised comedy sci-fi podcast.

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