Thursday, April 16, 2020

Lawler: Redfin Selected Housing Market Data

by Calculated Risk on 4/16/2020 11:59:00 AM

From housing economist Tom Lawler:

Redfin Corporation, a real estate brokerage company in the United States and Canada, has recently (and temporarily) been publishing more timely data on selected housing data that it covers. Here is an excerpt from its website.

“Each week, we are temporarily releasing a new daily dataset to keep everyone up-to-date on the latest developments in the housing market.

All data here is computed daily as either a rolling 7-day or 28-day window. The local data is grouped by Redfin market, which may not align perfectly with metro area definitions (CBSAs). All of this data is subject to revisions weekly and should be viewed with caution.”
Here is a table showing YOY % changes in selected housing data compiled by Redfin.

PeriodPending SalesYOY % Change
Active Listings
New Listings
3/28-4/3/2020 -49.35% -19.40% -43.60%
3/21-3/27/2020 -33.81% -17.40% -28.30%
3/14-3/20/2020 -19.91% -16.10% -10.70%
3/7-3/13/2020 -7.31% -15.90% -3.50%
2/29-3/6/2020 1.46% -16.30% 2.20%

Redfin data on closed home sales is not quite as timely, but for the 28-day period ending 3/27/2020 Redfin’s closed home sales were up 1.5% from the comparable period of 2019.

I have not done any work to assess how Redfin’s data track other measures of housing activity.