“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.
To Renovate or Not To Renovate Before You Sell
Spending costly time and money on renovations before you sell might just mean you’ll miss your key window of opportunity.
What Is the Strongest Tailwind to Today’s Recovering Economy?
Real estate has been a beacon of light during a very challenging time in our nation’s history.
What Is the #1 Financial Benefit of Homeownership?
The wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is.
How to Make a Winning Offer on a Home
A real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer. Let’s connect today to make sure you’re headed in the right direction.
Will the Housing Market Bloom This Spring?
Here’s what a few industry experts have to say about the housing market and how it will bloom this season.
6 Simple Graphs Proving This Is Nothing Like Last Time
In 2020, real estate had one of its best years ever. Home sales were up over the year before. Find out why it’s different from 2008.