Sustained Buyer Interest Defies Conventional Expectations

Lisa Mailhot  |  August 30, 2023

Buyers

Sustained Buyer Interest Defies Conventional Expectations

 

Concerned about selling your home due to apprehensions about buyer activity amidst fluctuating mortgage rates? Rest assured, the most recent data indicates a robust presence of eager buyers in the market, actively making home purchases. Here's the compelling evidence supporting this trend.

The ShowingTime Showing Index serves as a gauge for gauging buyer engagement with property viewings. The chart below employs the latest available figures, contrasting them with data from corresponding months in previous standard years. This comparison vividly illustrates the remarkable and ongoing engagement of present-day buyers:

 

Upon scrutiny of the data, it becomes evident that the figures for June 2023, when juxtaposed with the historically expected activity in the real estate market during this period, unequivocally demonstrate the sustained vitality of buyer participation. Notably, this participation surpasses the established norms by a significant margin.

If you're contemplating the plausibility of this scenario, it's essential to acknowledge that buyers have gradually adapted to elevated mortgage rates, embracing them as the new normal. As articulated by Danielle Hale, Chief Economist at Realtor.com:

“Interest rate hikes continue to further cut into buyers' purchasing power, although they appear to have adapted to the higher mortgage rate environment . . .”

In essence, the fundamental need for buyers to secure homes remains constant, and those who possess the means to proceed within the current rate framework are decisively acting upon this opportunity.

The Key Message for You

Though the fervor witnessed over the past few years may have subsided, it is vital to comprehend that the present real estate landscape is far from dormant. The fact is: that buyer interest remains robust. Despite prevailing mortgage rates, a considerable number of buyers continue to execute their property acquisitions. With this understanding, why postpone your own property transaction when the market evidently welcomes your listing?

Bottom Line

Dismiss any reservations about delaying your plans due to apprehensions about your home's marketability. The reality contradicts such concerns, as the current environment showcases heightened buyer engagement beyond the anticipated norm. Let's initiate a connection to prepare your property for sale, ensuring it leaves an impeccable initial impression on these enthusiastic prospective buyers.

RECENT BLOG POSTS

Mortgage Rate Anxiety Is on the Rise—Here’s Why

Homebuyers and renters alike are feeling the pressure as mortgage rates, home prices, and rents continue to climb. With new tariffs and inflation concerns shaping cons… Read more

Is Your Community Being Left Empty? Understanding the Debate on Vacant Homes

Vacant properties owned by absentee owners have sparked debate in LA, especially post-wildfires. Learn why these homes are a point of contention and what potential sol… Read more

Homebuilders Warn of 40% Tariff on Canadian Lumber and Its Impact on Housing Costs

A 40% tariff on Canadian lumber could raise U.S. home prices and hinder new development. Learn how this affects housing affordability and which homebuyers are impacted… Read more

How Smart Home Features Can Boost Your Property’s Appeal

From AI-powered fridges to smart security systems, the latest smart home trends are captivating buyers. Discover how investing in tech upgrades could enhance your home… Read more

The ABCs of Buying a Tiny Home or ADU on Amazon

Thinking of buying a tiny home or accessory dwelling unit (ADU) online? Learn what to watch for, including zoning rules, assembly costs, utility connections, and insur… Read more

Real Estate Commissions: The Shake-Up of 2025

Homebuyer and seller commission negotiations are heating up after new rules took effect in August. Discover how these changes are impacting average commission rates, n… Read more

State Farm's 22% Rate Hike Shocks California Homeowners

In the aftermath of devastating LA wildfires, State Farm has requested a 22% insurance rate hike in California. Discover how this could impact homeowners, why wildfire… Read more

Unlock Higher Returns with Smarter Rental Strategies in 2025

With rental market growth set to hit $5.35 trillion globally by 2025, investors can boost returns by diversifying portfolios, leveraging tech, and adopting proactive m… Read more

Boomers on Lockdown: The $84 Trillion Wealth Transfer on Hold

Baby boomers are holding tight to their real estate and assets, delaying the long-anticipated "Great Wealth Transfer." Learn how this affects millennials, Gen Xers, an… Read more

We are excited to assist you in finding your perfect home

Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most