Buyer Traffic Is Still Stronger than the Norm

Dated: August 31 2023

Views: 278

Buyer Traffic Is Still Stronger than the Norm

Buyer Traffic Is Still Stronger than the Norm

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.comexplains:

“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. Connect with Arminé  Group to get your house ready to sell, so it makes the best first impression possible on those eager buyers.

Blog author image

Arminé Ghevian

My goal is simple: a commitment to finding the dream home, purchase, or sale for my clients. With more than 25 years of experience in the real estate industry & the Los Angeles County market, my t....

Latest Blog Posts

Why reviewing and updating your living trust matters more than ever

Many longtime homeowners created their Living Trust years ago when their children were younger, their financial situation looked different, or before retirement became a reality.But here’s

Read More

Why You’ll Love Owning a Home

Why You’ll Love Owning a HomeSome HighlightsOwning a home comes with many benefits, both non-financial and financial.From the sense of accomplishment and freedom of expression, to growing

Read More

The Secret To Selling This Spring: Start the Prep Work Now

The Secret To Selling This Spring: Start the Prep Work NowSpring is the busiest season in the housing market. It’s the time of year when buyers are most active – that means it’s

Read More

A Record Percent of Buyers Are Planning To Move in 2025 – Are You?

A Record Percent of Buyers Are Planning To Move in 2025 – Are You?This could be the year to sell your house – and here’s why. According to a recent NerdWallet 

Read More