Redfin Reports Disappointing Home Sales

Redfin’s CEO reported last week that home buyer demand is waning in Seattle, Portland, and San Jose as June sales in these markets were down by double digits and inventory levels increased by double digits too. Redfin CEO Glenn Kelman said this trend continued in July in these 3 cities and agents and managers in D.C., Boston, Virginia and parts of Chicago are reporting “that homes are getting harder to sell.” Denver was not mentioned in this story. Will Denver see a slowdown beyond our normal seasonal summer slowdown? Maybe, but I doubt it.