It is clear that the housing market no longer exhibits the commotion that characterized the previous two years so strongly. However, this does not imply that the market is stagnant right now. In reality, there is still a lot of buyer traffic today. Homebuyers are displaying enthusiasm in the real estate market. In this blog post, we delve into the reasons behind this unstoppable surge. And explain how the housing market continues to thrive.
The ShowingTime Showing Index®’s most recent data shows that buyer foot traffic is still high. Regardless of a 10% decrease in Showing traffic in May. But this has a regular seasonal pattern. The pandemic only caused a disruption, and it is now starting to resume. Because of this, the data shows that traffic increases in the spring and decreases the rest of the year.
Last month, there were more buyers than sellers. It has contributed to the strongest monthly price growth since last June. But what’s actually happening is a gradual return to more typical seasonality rather than a sharp decline in demand. According to the ShowingTime report:
“”Despite the monthly decline, buyer foot traffic remains elevated above pre-pandemic levels associated with a more typical housing market.”
What You Should Do as a Buyer
Keep in mind that there are still lots of buyers. And if it weren’t constrained by the lack of available homes for sale, it might actually be even stronger. It will be interesting to see how these trends continue to influence the real estate market as time goes on. If you’ve been thinking about buying a house, now might be the ideal time to do so. You can benefit from the favorable market conditions and join the group of motivated and active homebuyers by doing so.
The Bottom Line
Although housing markets have slightly cooled, demand hasn’t decreased. And is still strong in many areas, largely as a result of the lack of available housing on the market. Do not forget how active the market is right now. Your home won’t be visible to all the buyers who are actively looking to buy right now if it isn’t listed for sale. To get the process going, get in touch with your local expert.
What To Do:
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