Home Tours

Potential buyers are coming out of the woodwork and touring homes, but that activity has yet to turn into a sales surge. Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin agents, increased by 6% in the week ending January 28. Buyers are touring homes as rates hover in the mid-6’s, an exciting moment of stability in the wake of a rollercoaster year. Some are worried that rates will swing back up– or that ongoing home price appreciation will push their dream home out of reach regardless.  But the increase in touring has yet to translate into actual home sales. Purchase applications have actually declined, and Redfin says pending sales saw a huge drop.…