Search
  • Yvonne Yang

Homebuyer Traffic Is on the Rise


One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right.

ShowingTime, a leading showing software and market stat service provider for the residential real estate industry, just reported on their latest the ShowingTime Showing Index:

“Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity.”

That means there are 60% more buyers setting appointments to see homes than there were at this same time last year. The number of potential purchasers was also up dramatically in every region of the country:

  • The Northeast was up 76.6%

  • The West was up 56.7%

  • The Midwest was up 52.1%

  • The South was up 46.7%

The Housing Market Is Showing a ‘V’ Type Recovery

ShowingTime also indicates the real estate market has already come back from the downturn earlier this year that was caused by shelter-in-place orders. Here are the year-over-year numbers for each region on a monthly basis (See graph below):


We’re way ahead of where we were at this time last year. This data validates the thoughts of Frank Martell, President and CEO of CoreLogic, who recently noted:

“On an aggregated level, the housing economy remains rock solid despite the shock and awe of the pandemic.”
23 views
WHAT'S UP?
LAST EVENT
CONTACT

CURRENTLY PENDING

1405 Cedar Pl, Los Altos, CA 94024

4397 Muirwood Dr, Pleasanton, CA 94588

4553 Niland St, Union City, CA 94587

2455 Chabot Ter, Palo Alto, CA 94303

1269 Avenida Benito, San Jose, CA 95131

38916 Tobira Pl, Newark, CA 94560

Currently Sold

350 San Domingo Way,

Los Altos, CA 94022

167 S San Antonio Rd, Los Altos, CA 94022

Tel: (408) 674-4418
Calbre: 01371905

Email: yvonne@yvonneyanghomes.com

Currently Sold

457 Sierra Vista Ave #5,

Mountain View, CA 94043

© Copyright 2020 Yvonne Yang, All Rights Reserved

  • contact-me-icon-63
  • img_179745
  • w-facebook
  • White Instagram Icon
  • White LinkedIn Icon
  • White YouTube Icon