The number of Redfin customers making tours of homes for sale increased 9% in March over February, versus a 4% increase for the same period in 2012, the real estate brokerage’s Real-Time Demand Pulse found.
While there was a 22% increase in the number of customers who make an offer during month, this is only slightly higher than the 21% month-to-month increase seen in 2012.
Redfin’s breakdown of its data found that there was a 16% increase in potential buyers who made an offer during the last week of March compared with the first week. In 2012, there was only a 3% increase.
“This year’s drastic jump in offer activity indicates an extremely competitive home buying season and likely gains in April and May sales,” Redfin said.
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The biggest frustration among buyers might be the lack of inventory. But Redfin said its agents are optimistic that as prices continue to rise, more people will put their homes on the market, easing the crunch and providing the sales volume needed to create a true housing recovery.
