Redfin Housing Demand Index Hit New High in September - Redfin Real Estate News

Redfin Housing Demand Index Hit New High in September

Updated on October 6th, 2020
The Redfin Housing Demand Index increased 4.3 percent from last month to a seasonally adjusted level of 134* in September. This was the highest level of homebuyer demand recorded since Redfin began tracking this data in January 2013.

The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015.
The seasonally adjusted number of buyers requesting home tours and writing offers increased August to September, up 5.3 percent and 2.4 percent respectively. Year over year, tour activity increased 42.3 percent, while offer activity grew by 8.2 percent.
“Mortgage rates reached a low point for the year in September, which likely increased buyer enthusiasm to purchase for the month,” said Redfin chief economist Nela Richardson. “Though lower rates are good news for buyers, inventory continues to be a huge challenge. There were 14 percent fewer new listings hitting the market last month than in August. That was the largest month-over-month decline in new listings that we’ve seen in 2017.”
Across the 15 metros covered by the Demand Index, there were 14 percent fewer homes for sale in September than there were a year prior, and there was a 0.9 percent decline from August.

Metro-Level Demand Highlights

Below, we provide a slideshow of local charts for each of the metros tracked by the Redfin Housing Demand Index and highlight noteworthy trends and agent insights from select markets. If you’d like to learn more about a particular market, please email

For more detail on the Redfin Demand Index methodology, click here.
*Note: Demand Index data from 10/24/2017


Jon Whitely

Jon writes about real estate and works with journalists and agents across the country. He previously worked at an advertising and PR agency in Madison, helping the world understand why every pizza needs Wisconsin Cheese. His dream home would have a water slide in the master bedroom to make getting out of bed a splash. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.

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