Despite the current slowdown in the housing market, many buyers are still eager to purchase a home. According to U.S. News, the demand for homes remains strong, particularly due to the shortage of homes available for sale. The recent ShowingTime Showing Index, which measures the number of active home tours, illustrates this trend.
The index shows a 62% increase in showings from December 2021 to January 2022, one of the highest recorded. In addition, the number of showings in January exceeded any other month since May 2021. Although it is typical to see a seasonal increase in showings in January, this year’s jump is larger than usual, largely attributed to lower mortgage rates.
Michael Lane, VP of Sales and Industry at ShowingTime+, explains that the significant increase in showing activity indicates that buyers are back in the market after the rapid slowdown experienced last year. The lower mortgage rates in January contributed to the increased buyer interest, and while rates may fluctuate, interested buyers are always ready to make a move when they are favorable.
The rise in buyer interest is a positive sign for the housing market, and if you are considering selling your home, it may be an opportune time to speak with a real estate agent.
Despite the current slowdown in the housing market, many buyers are still eager to purchase a home. According to U.S. News, the demand for homes remains strong, particularly due to the shortage of homes available for sale. The recent ShowingTime Showing Index, which measures the number of active home tours, illustrates this trend.
The index shows a 62% increase in showings from December 2021 to January 2022, one of the highest recorded. In addition, the number of showings in January exceeded any other month since May 2021. Although it is typical to see a seasonal increase in showings in January, this year’s jump is larger than usual, largely attributed to lower mortgage rates.
Michael Lane, VP of Sales and Industry at ShowingTime+, explains that the significant increase in showing activity indicates that buyers are back in the market after the rapid slowdown experienced last year. The lower mortgage rates in January contributed to the increased buyer interest, and while rates may fluctuate, interested buyers are always ready to make a move when they are favorable.
The rise in buyer interest is a positive sign for the housing market, and if you are considering selling your home, it may be an opportune time to speak with a real estate agent.
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