flexiblefullpage - default
Currently Reading

Homebuying Demand Soars 22% From Pre-Pandemic Levels

Advertisement
billboard - default

Homebuying Demand Soars 22% From Pre-Pandemic Levels


June 8, 2020
Aerial of neighborhood colorado
By Robert Arthur Media

Redfin laments that it has been a difficult spring for America as century-old wounds that have never healed were laid bare after the deaths of George Floyd, Breonna Taylor, and Ahmaud Arbery. Despite the country’s pain, Redfin decided to publish its weekly update on the housing market so those who need to buy a home still have the information and resources available to make an informed decision. For the last week of May, housing demand was up 22 percent from pre-pandemic levels in January and February on a seasonally adjusted basis. This is the seventh straight week of increases, and median prices are up 7 percent compared to last year due to low housing inventory. Find out other market insights in this edition of Redfin’s weekly market round-up. 

It’s a difficult time to be reporting on the recovery in the housing market while the country grieves over the unjust killings of George Floyd, Breonna Taylor, Ahmaud Arbery and many others. In cities across the nation, Americans marched to protest systemic racism and a long history of violence and brutality targeted at Black people in America. Redfin supports the protests, and we know we need to do more to help end the cycle of racism in America.

We decided to publish this week’s update, because we also feel an obligation to people who are trying to decide whether to buy or sell a house; to drop their home’s price or hold out for a better offer; to make decisions about what is generally people’s largest financial investment.

For the full week ended May 31, demand was up 22% from pre-pandemic levels in January and February, on a seasonally-adjusted basis. This marks the seventh straight week Redfin’s home-buying demand has increased since it hit bottom in mid-April.

Read More
 

Related Stories

Market Data + Trends

The Biggest Hurdle for Housing Is Seller Hesitation, Experts Say

Elevated borrowing costs are currently affecting both homebuyers and sellers, with buyers hesitant to spend and sellers unwilling to list and sacrifice the lower rates they've locked in on their current homes

Government + Policy

Bipartisan House Bill Aims to Incentivize Home Selling

The More Homes on the Market Act seeks to amend the sales gain tax exclusion to bring more homes into the for-sale market

Market Data + Trends

A New Normal? Why Experts Are Calling Today’s Housing Market an ‘Ice Age'

The housing market is going through a deep freeze as elevated interest rates keep sellers on the sidelines and send available housing inventory to new lows

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category



Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.