Buzz
If you're currently searching for your perfect home, you may find that the market in your area can be highly competitive. RedFin, a real estate platform, now offers a tool that shows which homes are likely to sell fast, giving you a better understanding of how to approach your search.
As stated in a press release from RedFin:
We developed this feature to provide our users with an edge in the market, helping them identify the homes they need to tour immediately. A home is marked as "Hot" when our exclusive Hot Homes algorithm predicts an 80% chance of an accepted offer within two weeks of the listing's debut.
The platform explains that the calculation evaluates more than 500 home attributes (including price, location, and property type). It also takes into account local buyer preferences. On the Hot Homes details page, you'll find the probability of a home closing within specific time frames.
This tool is fairly straightforward, but it could be really useful if you're in the process of buying a home.
HotHomes
