Pixel ID: 275739503139554

The Homebuyer Traffic Is on the Rise

Dated: September 10 2020

Views: 23

Homebuyer Traffic Is on the Rise | MyKCM

One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right.

ShowingTime, a leading showing software and market stat service provider for the residential real estate industry, just reported on their latest the ShowingTime Showing Index:

“Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity.”

That means there are 60% more buyers setting appointments to see homes than there were at this same time last year. The number of potential purchasers was also up dramatically in every region of the country:

  • The Northeast was up 76.6%
  • The West was up 56.7%
  • The Midwest was up 52.1%
  • The South was up 46.7%

The Housing Market Is Showing a ‘V’ Type Recovery

ShowingTime also indicates the real estate market has already come back from the downturn earlier this year that was caused by shelter-in-place orders. Here are the year-over-year numbers for each region on a monthly basis (see graph below):Homebuyer Traffic Is on the Rise | MyKCMWe’re way ahead of where we were at this time last year. This data validates the thoughts of Frank Martell, President, and CEO of CoreLogic, who recently noted:

“On an aggregated level, the housing economy remains rock solid despite the shock and awe of the pandemic.”

Bottom Line

If you’re thinking about selling your house, this may be a great time to get the best price and the most favorable terms. You may reach us at Grant Reid Properties. 

Blog author image

Grant Reid

I am a South African expat living in the wonderful city of Cumming GA. I am a licensed real estate sales person and REALTOR in Cumming, GA. I have 30 years’ experience in running and managing severa....

Latest Blog Posts

It Pays to Sell with a Realtor Estate Agent

Some HighlightsToday, it’s more important than ever to have an expert you trust to guide you as you sell your house.From your safety throughout the process to the complexity of negotiating the

Read More

Will Mortgage Cost Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping 

Read More

Will Mortgage Cost Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping 

Read More

Will Mortgage Cost Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping 

Read More