With mortgage rate fluctuations, concerns about the real estate market surfaced. However, a closer look at the data reveals that buyer demand remains robust. While the market may not mirror the frenzy of the COVID ‘unicorn’ years, sellers still find opportunities in the current landscape.

Let’s take a closer look.

Showing Traffic Is Up

The ShowingTime Showing Index serves as a key indicator of buyer demand, showcasing an increase in home tours. Elevated showing traffic is not the sole testament to strong buyer demand. Additional factors like the number of offers sellers receive and the average days homes spend on the market further support this narrative.

Some Sellers Are Still Seeing Multiple Offers

Recent data from the National Association of Realtors (NAR) indicates that sellers are, on average, receiving 2.5 offers on their homes. This suggests that the market remains competitive, with eager buyers making their presence known. While homes are spending slightly more time on the market than during the ‘unicorn’ years, they continue to sell faster compared to the last “normal years” in the market.

The Takeaway

The current real estate landscape provides sellers with a favorable environment. Potential multiple offers, coupled with a faster sales pace, demonstrate that buyer demand is alive and well. If you’re considering selling your home, now is a great time to explore opportunities. To navigate the process effectively, it’s important to give us a call to get updated information on your home and neighborhood. It’s our specialty!

Request your market analysis today!

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