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Buyer Traffic Is Still Stronger than the Norm

orianarealtor

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it. The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:


As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it's clear buyers are still active. And, they’re actually a lot more active than the norm. If you’re wondering how this could possibly be true, it’s because buyers are getting used to higher mortgage rates and accepting them as the new reality. As Danielle Hale, Chief Economist, Realtor.com, explains: “Interest rate hikes continue to further cut into buyers' purchasing power, although they appear to have adapted to the higher mortgage rate environment . . .”

It’s simple. Buyers will always need to buy, and those who can afford to move at today’s rates are going to do so.

The Key Takeaway for You While it’s true things have slowed down from the frenzy of the last couple of years, it doesn’t mean today’s market is at a standstill. The reality is: buyer traffic is still strong today. Even with today’s mortgage rates, plenty of buyers are still making their moves. So why delay your own move when there’s clearly a market for your house?


Bottom Line

Don’t put off your plans because you’re worried no one will buy your home. The opposite is true, and more buyers are more active than the norm. Let’s connect to get your house ready to sell, so it makes the best first impression possible on those eager buyers.

 
 
 

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange/Broker Reciprocity Program of California Regional Multiple Listing Service, Inc. Listings displayed are property of California Regional Multiple Listing Service, Inc. Listing information is deemed reliable but is not guaranteed. Buyers are advised to confirm all data provided. Real Estate information being provided is for consumer`s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real Estate information has not been verified and is subject to change.

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