Be Excited To Become A Homeowner Despite The Market Glooms

Dated: 11/03/2014

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Maybe you are looking at buying a home for the very first time? Or possibly looking to reenter the life of a homeowner after recovering from the dreadful market crash a few years back? Get excited for what's happening!
  Think back to high school for a moment at two specific words: SUPPLY and DEMAND. If you are anything like me, a humongous smile just crossed your face! It is true that there are not quite as many homes on the market actively today as there has been in times past, however the number of buyers actively searching for real estate at this time is substantially lower as well!  With a multitude of sellers being in a situation where they want or need to still move, the buyer is truly getting back the upper hand.  

REALTORS® Reported Slower Buyer Traffic in September

Posted in Economist Commentaries, by Jed Smith, Managing Director, Quantitative Research on October 30, 2014
For the first time since January 2012, the Buyer Traffic Index, which captures on the aggregate how REALTORS® viewed traffic conditions in their markets, dropped  to 44  in September  (55 in August), according to data from the September 2014 REALTORS® Confidence Index Survey: An index below 50 indicates that more REALTOR® respondents viewed their local traffic conditions as “weak” compared to those who viewed conditions as “strong” or “moderate.” The higher the index, the more respondents there are with “moderate” or “strong” outlook.By state[1], buyer traffic strongest in North Dakota and in D.C. as well as states in the West, South, and in the Great Lakes.  Buyer traffic was generally “weak” in many states in the North East and Mid-Atlantic. 103014B
[1]               The buyer and traffic index by state is based on data gathered from the last three surveys to accumulate enough observations for each state.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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Aaron Stradling

Aaron Stradling is a native of Arizona. Having been born and raised in the valley, Aaron knows what is unique and special about the area. His background in real estate began at an early age with his f....

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