Home Buyer Activity Is Up
As the housing market continues to evolve and change, homeowners are always looking for insights on whether it’s a good time to sell their house. Fortunately, recent data provides some positive news for those considering listing their home, as home buyer activity is up.
The latest ShowingTime Showing Index indicates that home buyer traffic has increased in the first two months of 2023, despite higher mortgage rates. This is great news for homeowners looking to sell their house, as it indicates that there are buyers out there actively looking for homes.
One possible reason for the increase in buyer traffic is the limited number of homes for sale. Even during the colder months, buyers are searching for homes, and this trend could continue as we move into the spring and summer. In fact, Jeff Tucker, Senior Economist at Zillow, believes that:
“more buyers will keep coming out of the woodwork in the coming months.”
If we compare the data for February 2023 with the previous six years, it’s clear that this year has seen a marked increase in buyer activity. While 2021 and 2022 saw even more buyer traffic, those years were highly unusual due to the pandemic. Therefore, 2023 marks a clear rise in buyer activity when compared to more normal, pre-pandemic years.
Even with a slight increase in mortgage rates, buyers are still searching for homes. This is a positive sign for homeowners who are looking to sell their house, as it indicates that there is still demand in the market.
So, what does this mean for homeowners who are considering selling their house in 2023? It means that now could be a good time to list your home. With more buyers actively searching for homes, you may be able to sell your house more quickly and at a higher price than you might have expected.
Of course, as with any investment, there are no guarantees when it comes to buying or selling a home. The housing market can be unpredictable, and there are many factors that can impact demand and pricing. However, the recent increase in buyer traffic is a positive sign for homeowners looking to sell their house in 2023.
If you’re thinking about selling your house, it’s important to work with a real estate professional who can help you navigate the market and find the right buyer for your home. By leveraging their expertise and experience, you can make sure you get the best possible price for your house and move on to your next adventure with confidence.