Redfin, a new out bursting real estate brokerage, have released a statement observing a drop of eight percent in sales for new homes (year-over-year calculations). January was considered as the fifth month in a row to resemble the patterns; with a lower decline than the previous December. This change was observed in all regions of Seattle, with consistent drop. However, a greater drop in sales was observed in the West compared to other regions, especially in January.
According to Daryl Fairweather, the chief economist at Redfin, This slight decrease in the declines of sales is co-related with the observed changes in interest rates. This change is appeared to be positive towards builders confidence, which shows a significant increase in its numbers. The numbers are explained by Redfin to represent a new found understanding of the market from the customers, which lead to a better approach in terms of their real-estate plans.
Redfin have provided descriptive reports that shows the numbers for the annual drop in home sales for single families in three consecutive month. These numbers proved that the decline in the overall sales compliments sales for new residential areas; with a drop of 7.6 percent. However, while tracking the changes per month, the observed drop in January 2019 was an overall of 0.2 percent.
The observed decrease in sales declining, is a positive sign for the market. It resembles the healthy change in the economy and how the customers are well-adapting to it. With minor change in numbers observed throughout the process, it is expected to observe a consistent pattern throughout the upcoming month. Redfin are constantly tracking the changes monthly, to help provide the best services for the right time. More decrease in sales declining is the opportunity for all real-estate companies to deliver their best work.