Housing Demand Cools Over the Autumn – NMP Skip to main content

Housing Demand Cools Over the Autumn

Dec 26, 2017
The housing market showed signs of an autumnal cooling, according to new data from Redfin, although year-over-year activity remained strong

The housing market showed signs of an autumnal cooling, according to new data from Redfin, although year-over-year activity remained strong.
 
Last month, the Redfin Housing Demand Index fell 6.2 percent to 127 from October’s 136. Furthermore, the seasonally adjusted number of buyers requesting home tours was down in November by 1.9 percent, while the number of offers being made was 14.7 percent below October’s level.
 
On a year-over-year measurement, things were very different. The Demand Index increased 29.1 percent in November while the number of buyers requesting tours increased 41.3 percent, the number of offers being made was up by 10.5 percent.
 
But year-over-year activity was not upward when it came to inventory. Across the 15 metros covered by the Demand Index, there were 18 percent fewer homes for sale compared to November 2016. November marked the 30th consecutive month of year-over-year inventory declines and the fifth consecutive month of double-digit declines.
 
“Three years of low inventory is taking its toll on buyer demand in terms of tour and offer activity,” said Redfin Chief Economist Nela Richardson. “People still want to buy homes, especially before mortgage interest rates increase and prices rise even more. But there just aren’t enough homes for sale, especially at lower- to mid-level prices.” 

 
About the author
Published
Dec 26, 2017
Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Jun 18, 2026
Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Jun 18, 2026
Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Jun 17, 2026
Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power

Jun 16, 2026
Trump Taps Former CFPB Deputy Brian Johnson To Lead Bureau

MBA backs the nomination as lenders await clarity on the future direction of consumer finance regulation under the Trump administration

Jun 12, 2026
Trump Names FHFA Director Bill Pulte Acting Director Of National Intelligence

FHFA director will continue overseeing Fannie Mae and Freddie Mac while serving as acting director of national intelligence

Jun 02, 2026