Data released by Redfin shows that demand for housing is increasing as August saw the Redfin Housing Demand Index increase to an adjusted level of 93, or 1.7% higher than July’s seasonally-adjusted rate. The MReport staffer Brian Honea takes a look at this monthly increase which comes despite a nearly 18% year-over-year decrease during August.

The increasing demand for homes is having trouble being met, as there are not enough homes available on the market for the large pool of potential buyers to choose from, Redfin reported. Inventory has been an issue in the housing market for several months, and August was no exception. August saw a 9.4 percent decline in inventory over-the-year across the 15 markets covered by Redfin’s Demand Index...

Read more >