“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.
The #1 Reason Not to Wait to List Your House for Sale
Let’s connect today to get your house on the market at this optimal time to sell.
Do You Have Enough Money Saved for a Down Payment?
Be careful not to let big myths keep you and your family out of the housing market. Let’s connect to discuss your options today.
6 Reasons You’ll Win by Selling with a Real Estate Agent This Fall
There are many benefits to working with a real estate professional when selling your house. Find out why.
Should You Buy a Retirement Home Sooner Rather than Later?
If you’re a retiree with a single-family home and want to move closer to your family, now is the time to put your house on the market.
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
The housing market has made a full recovery, and all-time low interest rates are giving home buyers a big boost in purchasing power.
Is it Time to Move into a Single-Story Home?
Single-story homes have a lot of benefits and are often in higher demand. This bodes well for future resale opportunities.