Housing Demand Ticks Up As Selling Season Commences

The Redfin Housing Demand Index increased 9.2 percent from March to a seasonally adjusted level of 121 in April. 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. According to Redfin, the growth in demand is in stark contrast with the ongoing shortage of home supply; across the 15 metros covered by the Index, there were 13.1 percent fewer homes for sale than in the previous March.

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