Redfin Report Optimistic Despite Year-Over-Year Decrease

Redfin, an online real estate brokerage, reports that requests for visits to homes listed on its website increased by 2.2% in September compared with August. Plus there was an almost 7% increase in the number of signed offers to buy a home during the month.

This is positive news for monthly trends in consumer demand for residential property in the real estate market, though a year-over-year comparison included in Redfin's report shows both visit and offer numbers as down significantly from September 2013.

Monthly visit and offer amounts were down 4.4% and 12.5%, respectively, during the same period of time last year. This past September 47.4% of offers originating from Redfin's agents, compared to 57.9% in September 2013.

Despite those year-over-year declines the numbers are overall positive for the industry, which saw a decline in August of visits and offers. Redfin's report attributes this to "a market-wide drop in homes for sale and new listings."

According to Redfin, home visits can be a predictor of sales numbers within a 30- to 45-day window. Despite an overall decline in offers from last year, the report forecasts an increase in home sales during the months of October and November due to September's uptick in visits.

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