Redfin’s Housing Demand Index Drops From An All-Time High

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August 01, 2017

The Redfin Housing Demand Index, a score based on customers requesting home tours and writing offers, decreased to 130 in June, down from the all-time high of 136 in May.

The seasonally adjusted number of buyers who wanted a home tour remained the same in June from the previous month, but buyers writing offers dropped 11.3 percent.

Despite the decline, June was still a strong month. A level of 100 is the historical average for the three-year period between the start of 2013 and the end of 2015.

Across the 15 metros covered by the Demand Index, there were 12.2 percent fewer homes for sale in June than there were a year prior, marking the 25th consecutive month of year-over-year inventory declines and the sixth consecutive month of double-digit declines.

Baltimore (189), Denver (164), and Boston (146) were among the markets with the highest local index scores. Oakland’s index, though, fell to 72 in June.

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