The Holidays Aren’t Stopping Homebuyers This Year

Dated: December 16 2020

Views: 118

The Holidays Aren’t Stopping Homebuyers This Year

The Holidays Aren’t Stopping Homebuyers This Year | MyKCM

Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the homebuyer.

Each month, ShowingTime releases their Showing Index which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:

“The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.”

Here’s the breakdown of the latest activity by region of the country compared to this time last year:

  • The Northeast increased by 65.5%
  • The West increased by 64.7%
  • The Midwest increased by 55.7%
  • The South increased by 54.7%

Why is the traffic so active?

The health crisis definitely put homebuying plans on pause for many earlier this year. Buyers, however, are in the market and making moves well past the typical busy homebuying seasons of spring and summer.

One of the main reasons buyer traffic has continued to soar in the second half of 2020 is how dramatically mortgage rates have fallen. According to Freddie Mac, the average mortgage rate last December was 3.72%. Today, the rate is a full percentage point lower.

Bottom Line

There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2021, you don’t need to wait until the spring to do it. Your potential buyer is very likely searching for a home in your neighborhood right now.

Blog author image

Alex Ortiz

I started my real estate journey in 2001 as an assistant and in 2004 earned my Real Estate License. Since then I have gone through my own buying and selling experience, became an entrepreneur in vario....

Latest Blog Posts

Multigenerational Housing Is Gaining Momentum

Multigenerational Housing Is Gaining Momentum Some HighlightsIf your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move

Read More

VIDEO: Top 4 Reasons to Own a Home

VIDEO: Top 4 Reasons to Own a HomeOwning a home can have an incredible impact on your quality of life. Let's connect if you're ready to make your dream of homeownership a.

Read More

Homeownership Is Full of Financial Benefits

Homeownership Is Full of Financial BenefitsA Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today

Read More

Latest Jobs Report: What Does It Mean for You & the Housing Market?

Latest Jobs Report: What Does It Mean for You & the Housing Market?Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000

Read More