“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.
Is it Safe to Sell My House Right Now?
Real estate professionals have spent the majority of 2020 figuring out how to sell homes safely, and it’s paying off for those who are choosing to move this year.
Why the 2021 Forecast Doesn’t Call for a Foreclosure Crisis
Many homeowners have enough equity in their homes today to be able to sell their houses instead of foreclosing.
Real Estate Is a Driving Force in the Economy
The American Dream of homeownership has continued to thrive in the midst of this year’s economic downturn.
Rent vs. Buy: How to Decide What’s Best for You
With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership.
4 Reasons Why the Election Won’t Dampen the Housing Market
Recent trends suggest that the housing market will continue its strong momentum in the months to come.
Buyer Interest Is Growing among Younger Generations
he demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes.