Heading into the new year, there's more interest from buyers, but actual home sales remain low
Jan. 10, 2025
Image; lordn / stock.adobe.com
Home tours and meetings with real estate agents picked up during the first week of the year.
With the holidays in the rearview mirror, homebuyers are heading back to the marketplace. According to housing market platform Redfin’s Homebuyer Demand Index, homebuying demand kicked off the year strong, with a 2% increase from a month earlier during the week ending Jan. 5. Homebuying demand also improved by 2% on a year-over-year basis. While home tours and overall interest from buyers has grown, January has yet to see a real uptick in sales. Pending home sales actually declined by 3.1% year-over-year during the week ending Jan. 5.
On the selling side, new listings are down 2.5%, the biggest decline in over a year. But for the reason noted above, that drop may appear larger than it actually is. We’ll keep a close eye on pending sales and new listings over the next few weeks to determine whether more home tours eventually turn into more home sales, and whether more sellers start listing their homes as we get settled into 2025.Read more
