{"id":63456,"date":"2018-07-31T13:19:50","date_gmt":"2018-07-31T20:19:50","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=63456"},"modified":"2020-10-06T17:08:04","modified_gmt":"2020-10-07T00:08:04","slug":"redfin-housing-demand-index-flattens-from-may-to-june","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/redfin-housing-demand-index-flattens-from-may-to-june\/","title":{"rendered":"Redfin Housing Demand Index Flattens from May to June"},"content":{"rendered":"

Buyers Become More Selective and Price-Sensitive as More Homes Hit the Hottest Housing Markets \u00a0<\/i><\/b><\/h3>\n

The Redfin Housing Demand Index fell 0.7 percent month over month to 120 in June. The decline was driven by a 2.2 percent decrease in the seasonally adjusted number of homebuyers requesting tours, and a 12.2 percent decrease in the number making offers on homes from May to June. <\/span>
\nThe Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. The Demand Index is adjusted for Redfin\u2019s market share growth and for seasonality. A level of 100 represents the level of homebuyer demand posted in January 2014. The underlying <\/span>methodology<\/a><\/span> to the Redfin Housing Demand Index was revised this month to improve the way it accounts for seasonality.<\/span>
\nYear over year, the Demand Index posted its largest decline since April 2016. The Demand Index was 9.6 percent lower in June 2018 than it was in June 2017. The number of people requesting home tours fell 6.1 percent compared with a year earlier, and 15 percent fewer made offers on homes, the largest year-over-year decline since April 2016 for this metric as well.
\nIn the interactive chart below, use the dropdown menu in the upper righthand corner to display and download national and metro-level data.<\/span><\/i>
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