2015 Housing Market off to an Early, Roaring Start
If you’re like many buyers, you’ve kicked off 2015 by restarting your home search in full force. Our data on tours and offers in the first few weeks of the year shows a huge jump in buyers searching for affordable homes.
Rock-bottom interest rates and easier lending conditions are giving us flashbacks to 2013, another year marked by high buyer demand. A Redfin agent in Seattle, Klaus Gosma, hosted an open house for an average townhome that was flooded with 132 people last weekend. In Denver, a house got 23 offers in one, snowy day. Redfin’s free home buying classes are getting record numbers of attendees across the country.
Though demand is high, home prices are exhibiting a more stable and sustainable growth rate than we’ve seen in the past three years. January median sales prices increased 7.6 percent from this time last year, much slower than the 15.4 percent increase we saw from 2013 to 2014.