“Unlike last year, there’s another type of buyer that is very active this winter – the homebuyer.”
Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.
Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The latest index revealed:
“Traffic was more active once again compared to 2018, as the nation saw its third straight month of higher year-over-year showing activity…The 5.5% increase in showings nationwide was the largest jump in activity during the now three-month streak of year-over-year increases vs. 2018.”
The same report indicates showings increased in every region of the country:
- The South increased by 10.8%
- The West increased by 8.6%
- The Northeast increased by 3.8%
- The Midwest increased by 1.5%
Why is the traffic more active?
One of the main reasons buyer traffic has increased year-over-year is that mortgage rates have fallen dramatically. According to Freddie Mac, the average mortgage rate last December was 4.64%. Today, the rate is almost a full percentage point lower!
Bottom Line
There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2020, you don’t need to wait until the spring to do it. Your potential buyer may be searching for a home in your neighborhood right now.
To view original article, visit Keeping Current Matters.
Some Buyers Prefer Smaller Homes
If your house is no longer the best fit for your evolving needs, it may be time to put your equity to work for you and downsize to the home you really want.
Homeownership Is Full of Financial Benefits
Does homeownership actually give you a better chance to build wealth?
Latest Jobs Report: What Does It Mean for You & the Housing Market?
With listing inventory down 52% from a year ago, bidding wars are skyrocketing. As a result, home prices are climbing.
Don’t Sell on Your Own Just Because It’s a Sellers’ Market
Real estate professionals are trained negotiators with a ton of housing market insights that average homeowners may never have.
Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year
Your tax refund may cover more of a down payment than you realize.
2021 Real Estate Myth Buster
Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market.