{"id":8927,"date":"2023-07-27T06:30:00","date_gmt":"2023-07-27T10:30:00","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8927"},"modified":"2023-07-27T06:30:00","modified_gmt":"2023-07-27T10:30:00","slug":"homebuyers-are-still-more-active-than-usual","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8927","title":{"rendered":"Homebuyers Are Still More Active Than Usual"},"content":{"rendered":"
\"Homebuyers<\/p>\n

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn\u2019t mean today\u2019s market is at a standstill. In actuality, buyer traffic is still strong today.<\/p>\n

The ShowingTime <\/em>Showing Index<\/em><\/a> is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.<\/p>\n

<\/a><\/p>\n

It shows there\u2019s seasonality<\/a> in real estate. If you look at the last normal years in the market (shown in gray<\/em>), there was a consistent pattern as buyer activity peaked in the first half of each year (during the peak homebuying season in the spring) and slowed as each year came to a close.<\/p>\n

When the pandemic hit in March of 2020, that trend was disrupted as the market responded to the resulting uncertainty (shown in blue in the middle<\/em>). From there, we entered the \u2018unicorn\u2019 years<\/a> of housing (shown in pink<\/em>). This is when mortgage rates were record-low and buyer demand was sky high. Similar seasonal trends still existed even during that time, just at much higher levels.<\/p>\n

Now, let\u2019s look at 2023. Traffic is down from the previous month and it\u2019s also lower than the peaks we saw in the \u2018unicorn\u2019 years<\/a>. But what\u2019s happening isn\u2019t a steep drop off in demand \u2013 it\u2019s a slow return toward more normal seasonality. As the ShowingTime<\/em> report explains<\/a>:<\/p>\n

\u201cShowing traffic declined about 10% in May . . . <\/em>This follows a typical seasonal pattern \u2013 disrupted by the pandemic but now beginning to return <\/em><\/strong>. . .\u201d<\/em><\/p><\/blockquote>\n

And, to highlight this isn\u2019t a drastic decline, let\u2019s zoom in. Here\u2019s a graph using just the May data for the last five years. It shows just how strong buyer demand still is.<\/p>\n

<\/a><\/p>\n

What Does That Mean for You? <\/strong><\/h4>\n

Buyers are still out there touring homes. They\u2019re more active than they were in May 2022 (when sticker shock over higher mortgage rates<\/a> started to set in) and certainly more than they were in the last normal years. So, remember, buyer activity is still strong. And it could actually be even stronger if it wasn\u2019t constrained by the limited supply<\/a> of homes for sale. According to U.S. News<\/em><\/a>:<\/p>\n

\u201cHousing markets have cooled slightly, <\/em>but demand hasn\u2019t disappeared, and in many places remains strong<\/em><\/strong> largely due to the shortage of homes on the market.\u201d<\/em><\/p><\/blockquote>\n

Bottom Line<\/h3>\n

Don\u2019t lose sight of just how active the market still is today. If your house isn\u2019t on the market, it\u2019s not getting in front of all those buyers who are looking to make a purchase right now. Connect with a real estate agent to start the process.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\"Homebuyers<\/p>\n

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn\u2019t mean today\u2019s market is at a standstill.<\/p>\n<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,85,86,133],"tags":[],"class_list":["post-8927","post","type-post","status-publish","format-standard","hentry","category-blog","category-for-sellers","category-housing-market-updates","category-selling-myths"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8927"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8927\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}