A new report from online brokerage Redfin shows buyer demand staying unexpectedly strong in November.
Buyer demand typically decreases in November as the holiday season begins and the weather worsens. But this year’s seasonal dip was far less than last year’s, according to Redfin’s tracking of buyer demand. Tour requests were down 7.2 percent this year compared to 11 percent in November 2012, and signed offers were down 10.6 percent this year compared to 13.6 percent in November 2012.
According to Redfin, buyers are more motivated this year to find a home before year-end.
"With October’s budget and debt ceiling mess in the rear-view mirror and the prospect for higher mortgage rates in 2014, many buyers felt like November was a window of opportunity," according to California-based Redfin agent Paul Reid.
The late date of Thanksgiving this year may also have provided a boost to November’s numbers. Demand during the holiday week itself fell more sharply this year than last, according to Redfin. During the week of Thanksgiving, both tours and offers dropped sharply, with tours down 28.4 percent and offers down 22.8 percent from the week prior. This week-over-week drop was sharper than last Thanksgiving, which saw tours and offers fall 27.5 percent and 17.5 percent, respectively.





