Currently Reading

Redfin Expects Demand to Carry into Next Year

Advertisement
Sales + Marketing Trends

Redfin Expects Demand to Carry into Next Year


October 23, 2020
House in a shopping cart
Photo: stock.adobe.com

It won’t last forever but Glenn Kelman, CEO of Redfin, expects “the insane” real estate boom will continue into 2021.

“There are so many people now who have decided they’re not going to be able to buy a home by year-end, who expect to do so going into 2021, especially as their kids shift school districts. I do think we’re going to see this for some time.”
The demand for housing is primarily being driven by affluent professionals who are able to work remotely, Kelman said. That has given them the option of moving out of major metropolitan areas into more distant suburbs or, he said, buying vacation homes “and then taking a permanent vacation where they’re working from those homes.”

Low mortgage interest rates and tight inventory have consistently been cited as factors behind the release of recent metrics such as the 9.4%-increase in September homes sales, a 12.2%-rise in the national median list price of homes, and 2.7-month supply of houses for sale, the lowest level for housing stock since 1982. 

Read More

Related Stories

Sales + Marketing Trends

Measuring Buyer Demand From Showing Appointments

Measuring buyer demand in a different way, the ShowingTime Showing Index compares the number of appointments made for virtual or in-person …

Sales + Marketing Trends

What’s the Impact of COVID-19 on Home Buying Plans

It’s only a percentage point gain, but a third quarter survey of Americans propensity to want to buy a house is the first year-over-year gain in…

Sales + Marketing Trends

Home, Home On the Small Town

In a recent study by WalletHub of cities with populations between 25,000 and 100,000, all but one of the top 20 locales had the median list price for homes under the national median of $350,000.

Advertisement

More in Category




Advertisement

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.