{"id":4807,"date":"2023-05-03T05:30:00","date_gmt":"2023-05-03T10:30:00","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/buyer-activity-is-up-despite-higher-mortgage-rates\/"},"modified":"2023-05-03T05:30:00","modified_gmt":"2023-05-03T10:30:00","slug":"buyer-activity-is-up-despite-higher-mortgage-rates","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/buyer-activity-is-up-despite-higher-mortgage-rates\/","title":{"rendered":"Buyer Activity Is Up Despite Higher Mortgage Rates"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content-images-20230502-20230503-buyer-activity-is-up-despite-higher-mortgage-rates.jpg?w=358&#038;ssl=1\" alt=\"Buyer Activity Is Up Despite Higher Mortgage Rates Simplifying The Market\" loading=\"lazy\" style=\"margin-bottom: 5px;clear: both;max-width: 100%\" \/><\/p>\n<p>If you\u2019re a homeowner thinking about <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/04\/19\/falling-out-of-love-with-your-house-it-may-be-time-to-move\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">making a move<\/a>, you may wonder if it\u2019s still a <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/04\/25\/what-are-the-experts-saying-about-the-spring-housing-market\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">good time<\/a> to sell your house. Here\u2019s the good news. Even with higher mortgage rates, buyer traffic is actually <a href=\"https:\/\/www.simplifyingthemarket.com\/2023\/04\/11\/the-big-advantage-if-you-sell-this-spring\/?a=375140-ca8522ad04357da9549c08492a932f70\" rel=\"noopener noreferrer\" target=\"_blank\">picking up speed<\/a>.<\/p>\n<p>Data&nbsp;from the latest <a href=\"https:\/\/www.showingtime.com\/blog\/february-2023-showing-index-results-buyer-activity-continues-to-normalize\/\" rel=\"noopener noreferrer\" target=\"_blank\"><em>ShowingTime Showing Index<\/em><\/a>, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (<em>see graph below<\/em>):<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content-images-20230502-20230503-showing-traffic-up-again-in-february.png?ssl=1\" rel=\"noopener noreferrer\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content-images-20230502-20230503-showing-traffic-up-again-in-february.png?ssl=1\"><\/a><\/p>\n<p>As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That\u2019s likely because the limited number of homes for sale kept shoppers looking for homes even during colder months.<\/p>\n<p>To help tell the story of why the latest report is significant, let\u2019s compare foot traffic this February with each February for the last six years (<em>see graph below<\/em>). <strong>It shows this was one of the best Februarys for buyer activity we\u2019ve seen in recent memory.<\/strong><\/p>\n<p><a href=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content-images-20230502-20230503-showing-traffic-is-still-higher-than-pre-pandemic-years.png?ssl=1\" rel=\"noopener noreferrer\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/files.keepingcurrentmatters.com\/content-images-20230502-20230503-showing-traffic-is-still-higher-than-pre-pandemic-years.png?ssl=1\"><\/a><\/p>\n<p>In the last six years, we saw the most February buyer traffic in 2021 and 2022 (<em>shown in green above<\/em>), but those years were highly unusual for the housing market. So, if we compare February 2023 with the more normal, pre-pandemic years, data shows this year still marks a clear rise in buyer activity.<\/p>\n<p>The uptick in buyer traffic is even more noteworthy considering the increase in mortgage rates this February. The <a href=\"https:\/\/www.freddiemac.com\/pmms\/archive\" rel=\"noopener noreferrer\" target=\"_blank\"><em>Freddie Mac<\/em><\/a> 30-year fixed mortgage rate rose from 6.09% during the week of February 2<sup>nd<\/sup> to 6.50% in the week of February 23<sup>rd<\/sup>. But <strong>even with higher rates, more buyers were looking for a home<\/strong>.<\/p>\n<p>Jeff Tucker, Senior Economist at <em>Zillow<\/em>, <a href=\"https:\/\/www.marketwatch.com\/picks\/after-seven-straight-months-of-home-price-declines-heres-what-6-economists-and-real-estate-pros-say-to-expect-from-the-housing-market-this-spring-df79d2c3\" rel=\"noopener noreferrer\" target=\"_blank\">says<\/a> the increased buyer activity could continue:<\/p>\n<blockquote><p><em>\u201cMore buyers will keep coming out of the woodwork. We always see a seasonal uptick in home shoppers in March and April . . .\u201d<\/em><\/p><\/blockquote>\n<p>If you\u2019re looking to sell your house, seeing buyers still active in the market this year should be encouraging. It\u2019s a sign buyers are out there and could be looking for a home just like yours. Working with a real estate professional to list your house now will help you get your home in front of eager buyers today.<\/p>\n<h3>SBottom Line<\/h3>\n<p>Rising foot traffic is a bright spot for this year\u2019s housing market and indicates that buyers are looking to purchase this year, even with higher mortgage rates. If you\u2019re ready to sell your house, partner with a real estate professional.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re a homeowner thinking about making a move, you may wonder if it\u2019s still a good time to sell your house. Here\u2019s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed. Data&nbsp;from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4808,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_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":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-4807","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buyer Activity Is Up Despite Higher Mortgage Rates&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/buyer-activity-is-up-despite-higher-mortgage-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buyer Activity Is Up Despite Higher Mortgage Rates&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re a homeowner thinking about making a move, you may wonder if it\u2019s still a good time to sell your house. 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