Inventory Shortage Crimps Growth in Tours; Offers Unfazed

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The number of Redfin customers touring homes and making offers both continued to post stronger monthly gains in April this year compared to last year, pointing toward additional gains in May and June sales. With so few homes available to buy, touring strength was softened somewhat. Monthly growth in tours came in less than a point above last year’s level. Meanwhile, offers continued to grow at a faster clip than last year, with monthly growth more than 5 points above 2012, indicating continued determination from buyers in the face of near record-low inventory.

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" improv comedy sci-fi podcast.

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