Homebuyer demand rose sharply in February from a year ago, according to a monthly survey by Redfin, a real estate brokerage. Agents saw a 26 percent jump in the number of home tour requests. Demand, however, did fall slightly from January's record high, likely due to the lack of listings.
"The only factor holding back sales this spring is supply," said Redfin chief economist Nela Richardson. "Limited inventory, particularly for starter homes, has put a crimp in the 2017 market. We expect to see more listings hit the market this spring, but there will still not be enough inventory to match homebuyer demand."