Stay in the Know

Receive news on real estate in your local community, and be the first to know about trends and market conditions that affect your property value.

    Magazine

    Main Content

    WHAT’S FUELING BUYER DEMAND?

    Hey everyone, Missy and Jason here with the Improta Team at eXp.
    So what is happening in the marketplace that’s fueling all of this buyer activity?

    We think that we’re all a little bit surprised at how strong the market is right now.
    What we’re seeing is that buyer showings across the country are up from pre-pandemic levels.

    Now, during the last two years, we had some pretty intense activity. But even this year, with the higher interest rates, the affordability being hit, and the lack of inventory, we’re still seeing more showings than we were the previous 5 years before the pandemic.

    So that’s a fascinating thing. So what’s fueling that, because we know we’ve got inflation, there’s a lot of talk about a recession and we’ve got high rates.

    One of the things is that the job reports keep coming back stronger and stronger. We think they added 88,000 jobs between March and April alone. So it continues to increase.

    And then another factor is that we are literally at the lowest unemployment rate in 50 years. So, obviously that’s going to have an impact on the situation as well.

    So if you’re a seller in this market, this should all be music to your ears. Because that’s exactly what you need – a high buyer demand, eager buyers who are ready to go, and not as much competition.

    Interest rates are not scaring buyers off. They know what they can afford, and they’re out there looking at homes. So if you’re considering selling or you’ve been thinking about it, but you weren’t sure if this is a good marketplace for it… it really is!

    Give us a call. We can talk you through what your situation looks like if you’re thinking about selling.