November 22, 2024 3:24 am
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Redfin Housing Demand Index dipped in July as inventory shortage deepened

The number of Redfin customers requesting home tours and writing offers fell from June to July, but increased by double digits year over year

by Jon Whitely | Redfin

The Redfin Housing Demand Index fell 5.0 percent from its all-time high of 130 in June to 124 in July. Still, the Demand Index was up 29.7 percent year over year. The Demand Index is adjusted for Redfin’s market share growth.

The Demand Index is based on thousands of Redfin customers requesting home tours and writing offers. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015. The underlying methodology to the Redfin Housing Demand Index was revised in August 2017 to improve the way it accounts for the company’s market share.

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