"Redfin combines the easily calculated supply number - homes listed for sale - with some statistical wizardry to estimate the corresponding number of potential buyers. Gauging demand is the toughest core in almost any industry. Redfin's calculations seem far better than those from gurus who mistakenly tell you that recent sales equal demand. The latest results from December track 50 major U.S. markets - including eight from California. It's relatively good news for house hunters."
"By Redfin math, those eight Golden State markets had 35% more sellers - 72,840 vs. 54,045 buyers. Redfin calls any market with at least 10% more sellers than buyers a buyer's market. When there are at least 10% more buyers, that's a seller's market. In between is seen as balanced. The 44 markets in the rest of the nation leaned even more heavily toward house hunters, with 43% more sellers: 617,753 vs. 433,119 buyers, also a buyer's market."
A Redfin metric estimates potential buyers by combining listed homes with statistical modeling to gauge demand. In December, Redfin tracked 50 major U.S. markets, including eight in California. The eight California markets showed 35% more sellers than buyers (72,840 vs. 54,045), meeting Redfin's threshold for a buyer's market. The remaining 44 markets showed 43% more sellers than buyers (617,753 vs. 433,119), producing a broader buyer advantage nationally. Under Redfin's 10% rule, 36 of 50 markets favored buyers. Other industry measures relying on sales-to-listings ratios produced different, more seller-favoring results.
Read at The Mercury News
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