{"id":24912,"date":"2014-06-26T05:00:01","date_gmt":"2014-06-26T12:00:01","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=24912"},"modified":"2020-10-05T13:12:15","modified_gmt":"2020-10-05T20:12:15","slug":"redfin-hot-homes","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/redfin-hot-homes\/","title":{"rendered":"Hot or Not? Redfin \u201cHot Homes\u201d Show Buyers When to Move Quickly"},"content":{"rendered":"

[UPDATE on 11\/18\/14: The Redfin engineering team has tweaked the Hot Homes Algorithm to make it even more accurate. The algorithm now identifies Hot Homes based on real estate conditions in each market, rather than at a national level as it did at launch. The new definition of a Hot Home is one that has a 70% chance or higher of having an accepted offer within two weeks of its debut. In addition, the algorithm will now present the percentage in 5% increments rather than single-digit increments.\u00a0We\u2019ve also made the Hot Homes feature available on the Redfin Android app<\/a> in addition to the iPhone and iPad app<\/a>.]<\/em><\/p>\n

From cable news to cocktail parties, the housing market is, well, a hot topic. But for serious homebuyers, the big picture doesn\u2019t matter as much. What matters is whether a home that’s just perfect may get sold before you even have a chance to see it. And, almost everywhere, the most desirable homes sell very, very quickly. Hmmm \u2026 if only there was a way to know when to drop everything and hit that Go Tour It button …<\/p>\n

You knew where this was going.<\/p>\n

Introducing Redfin Hot Homes<\/strong>, <\/b>a new feature that identifies which homes for sale are likely to sell quickly, and highlights these homes throughout Redfin.com.<\/p>\n

Redfin identifies a home as \u201cHot\u201d when our proprietary Hot Homes Algorithm calculates that there is an 80% chance of that home having an accepted offer within two weeks of its debut. We label these Hot Homes on the map, so it\u2019s easy to identify them as you are browsing homes for sale. And on the page that describes each home in detail, we\u2019ll tell you how likely it is that a home will have an accepted offer within the next few days.<\/p>\n

\"Hot<\/a><\/p>\n

Redfin Hot Homes is the latest of our big-data initiatives to help consumers buy homes they would have otherwise missed. Most recently, we launched Redfin Matchmaker<\/a>, which identifies homes that users are likely to love but had overlooked.<\/p>\n

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