{"id":5875,"date":"2020-09-15T12:38:14","date_gmt":"2020-09-15T16:38:14","guid":{"rendered":"https:\/\/mortgageequitypartners.com\/sc-charleston\/?p=5875"},"modified":"2021-04-08T17:57:42","modified_gmt":"2021-04-08T21:57:42","slug":"homebuyer-traffic-is-on-the-rise","status":"publish","type":"post","link":"https:\/\/mortgageequitypartners.com\/sc-charleston\/homebuyer-traffic-is-on-the-rise\/","title":{"rendered":"Homebuyer Traffic Is on the Rise"},"content":{"rendered":"<p>One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, <em>Chief Economist<\/em> of the <em>National Association of Realtors<\/em> (NAR), is now forecasting that more homes will sell this year than last year. He\u2019s also predicting home sales to <a href=\"https:\/\/magazine.realtor\/daily-news\/2020\/08\/19\/will-home-sales-keep-defying-expectations\" target=\"_blank\" rel=\"noopener noreferrer\">increase<\/a> by 8-12% next year. There\u2019s strong evidence that he will be right.<span id=\"more-42984\"><\/span><\/p>\n<p><em>ShowingTime<\/em>, a leading showing software and market stat service provider for the residential real estate industry, just <a href=\"https:\/\/www.showingtime.com\/blog\/july-2020-showing-index-results\/\" target=\"_blank\" rel=\"noopener noreferrer\">reported<\/a> on their latest <em>the ShowingTime Showing Index<\/em>:<\/p>\n<blockquote><p><em>\u201cHome buyer traffic jumped again in July, recording a\u00a0<strong>60.7 percent<\/strong>\u00a0year-over-year increase in nationwide showing activity.\u201d<\/em><\/p><\/blockquote>\n<p>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:<\/p>\n<ul>\n<li>The Northeast was up 76.6%<\/li>\n<li>The West was up 56.7%<\/li>\n<li>The Midwest was up 52.1%<\/li>\n<li>The South was up 46.7%<\/li>\n<\/ul>\n<h3>The Housing Market Is Showing a \u2018V\u2019 Type Recovery<\/h3>\n<p><em>ShowingTime<\/em> also <a href=\"https:\/\/showingindex.stats.showingtime.com\/docs\/lmu\/x\/UnitedStates?src=page\" target=\"_blank\" rel=\"noopener noreferrer\">indicates<\/a> 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 <em>(See graph below):<\/em><\/p>\n<p><img decoding=\"async\" class=\" wp-image-5876 alignnone\" src=\"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-content\/uploads\/2020\/09\/chart-SC.jpg\" alt=\"chart of buyer traffic\" width=\"868\" height=\"651\" srcset=\"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-content\/uploads\/2020\/09\/chart-SC.jpg 1000w, https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-content\/uploads\/2020\/09\/chart-SC-300x225.jpg 300w, https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-content\/uploads\/2020\/09\/chart-SC-768x576.jpg 768w\" sizes=\"(max-width: 868px) 100vw, 868px\" \/><\/p>\n<p>We\u2019re way ahead of where we were at this time last year. This data validates the thoughts of Frank Martell, <em>President and CEO<\/em> of <em>CoreLogic<\/em>, who recently <a href=\"https:\/\/www.corelogic.com\/insights-download\/home-price-index.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">noted<\/a>:<\/p>\n<blockquote><p><em>\u201cOn an aggregated level, the housing economy remains <strong>rock solid<\/strong> despite the shock and awe of the pandemic.\u201d <\/em><\/p><\/blockquote>\n<h3>Bottom Line<\/h3>\n<p>If you\u2019re thinking about selling your house, this may be a great time to get the best price and the most favorable terms.<\/p>\n<div id=\"wp_rp_first\" class=\"wp_rp_wrap wp_rp_vertical\">\n<div class=\"wp_rp_content\">\n<h3 class=\"related_post_title\"><\/h3>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s also predicting home sales to increase by 8-12% next year. There\u2019s strong evidence that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[6,4],"tags":[],"class_list":{"0":"post-5875","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-articles","8":"category-news","9":"entry"},"_links":{"self":[{"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/posts\/5875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/comments?post=5875"}],"version-history":[{"count":0,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/posts\/5875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/media\/5877"}],"wp:attachment":[{"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/media?parent=5875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/categories?post=5875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mortgageequitypartners.com\/sc-charleston\/wp-json\/wp\/v2\/tags?post=5875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}