Real estate professionals are aware of a lower amount of activity typical of the winter season, though high affordability could have sparked increased interest in homeownership.
Despite affordability provided by record-low mortgage rates, The Real-Time Demand Pulse report from Redfin shows requests for home tours were down, while offers made to purchase properties also declined.
According to the report, the amount of requested home tours fell 7 percent in December. However, the decrease is considerably less than the 11.3 drop in interest seen in December 2011. This shows that more prospective buyers have actively considered making the investment, though activity is always down in the last month of the year due to the holiday season.
Additionally, the number of signing offers was down 17.5 percent, a figure that is higher than the 10.5 percent decrease seen the same month a year earlier.
With high affordability expected to extend throughout 2013, the data firm notes demand to buy is predicted to increase in the new year, while mortgage rates and home prices will continue improve allowing buyers to purchase in a seemingly healthier market.