Thanks to an increase in home tour requests and written offers, the Redfin Housing Demand Index rose to 105 in September, a 13.3% month-over-month increase. Redfin staffer Alex Starace takes a look at this increase in comparison to last September when the index was only at 101.
Compared to last September, there were 31.8% more potential home buyer tours and 26.8% more written offers. However, there still isn't enough supply to meet the increased demand as Redfin Chicago real estate agent Lamar Austin explains:
“Despite the surge of activity, there still aren’t enough homes for sale to satisfy demand. Every time something new comes on the market, my clients are touring to see if it’s a good fit. Homes that are appealing often get bid up, while many of my clients are having to prolong the time frame of their search, and even take month-to-month lease extensions, while they look..."