If you’re somewhat up to speed on what’s going on with the housing market right now, then you know that winter and spring months are a great time to sell your home due to the massive buyer demand.
Senior Economist George Ratiu of Realtor.com recently noted the following:
“Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.”
However, a recent report by ShowingTime reveals how this year is different. Buyer activity is way up compared to the same time last year!
The report also explains:
“The nation’s 12.6% growth in home showings compared to 2018 was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases. The West Region saw the greatest growth in activity, with a 23.1% jump – the region’s greatest in the history of the Showing Index.”
This increase has spread across all four regions of the country, outlined by the ShowingTime graph below:
Realtor.com 2020 Forecast for Key Housing Indicators
|Housing Indicator||Realtor.com 2020 Forecast|
|Mortgage Rates||Average 3.85% throughout the year, 3.88% by end of year|
|Existing Home Median Sales Price Appreciation||Up 0.8%|
|Existing Home Sales||Down 1.8%|
|Single-Family Home Housing Starts||Up 6%|
Bottom Line: Buyer’s Are Lining Up To Buy Your Home
Waiting for the “summer buyers’ market” to sell might be a mistake this year. The recent data shows that qualified buyers are already out there looking to find a home just like yours today!