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Are Homebuyers Starting to Hit the ‘Pause’ Button?

For the last several years, buyer demand has far exceeded the housing supply available for sale. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report. Methodology: The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends. Latest Report: “Showing activity throughout the country increased by 0.3 percent year over year in July, the third consecutive month that the U.S. ShowingTime Showing Index recorded buyer interest deceleration compared to the previous year. The 12-month average year-over-year increase was 4.6 percent.” Synopsis: Buyer demand is softening Realtors Confidence Index by the National Association of Realtors Methodology: The REALTORS Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Latest Report: “REALTORS reported slower homebuying activity in July 2018…The REALTORS® Buyer Traffic Index registered at 62, down from the same month one year ago (69). This is the fifth straight month (since March 2018) that Realtors reported a decline in buyer activity compared to conditions one year ago.” Synopsis: Buyer demand is softening The Real Estate Broker Survey in the ‘Z’ Report by Zelman and Associates (subscription needed) Methodology: Proprietary survey results of real estate executives. Latest Report: “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets. We had a strong buyers’ market directly after the housing crash which was immediately followed by a strong sellers’ market over the last six years. Members: Sign in now to set up your Personalized Posts & start sharing today!