2013 Homes Sales vs. Property Showing Trends
by: Christopher Tenggren, REALTOR®, January 29, 2014
Data Source: National Association of REALTORS® Homes Sales Data & REAL Trends Magazine/ShowingTime, December 2013
It’s interesting, in this decade’s plus worth of housing market data (which clearly illustrates the trends before, during and after the resent real estate bubble), to see the trends in Home Sales vs. Showing Traffic.
I wouuld interprate the data with the following two Key Points…
1. Clearly, based on this data graph, during this past decade’s housing market, the trends in the market before and during the bubble (2001-2008), saw buyers looking at far more properties before actually selecting one, given that the Homes Sales Trend remained fairly consistant.
2. In the post bubble period (2009-present), we see far less buyer showing traffic, yet no real change in the annual home sales.
My Conclusion… I can seem simple by suggesting that it is a supply & demand trend. However, I beleive it’s far more simple than that. This proves that the Housing Market (Homes Sales that is) has remained fairly consistant regardless of the overall ecconomy. It’s just that now the buyers have shopped less to purchase the same number of homes.
To me, I would seem that, given the reduced inventories, buyers get that there are fewer homes to view and they are acting & shopping accordingly. Multiple offers are back, home prices in the Chicago MSA have stabilized (generally speaking), and in some cases some mirco market area values have begun to apprieciate. And, with seasonally low interest rates, the market remains alive, even in the unseasonably cold January ’14 winter weather.
If I was a betting sort, I’d bet that we are headed for a very strong Spring Chicagoland Market for Home Sellers.
So… Now is the time to prepare by scheduling a consultation with your REALTOR!
Contact us to schedule a Pre-Spring Market, Pre-Listing Consultation… http://www.HomesInTheFoxValley.com/contact-us
Best Wishes in 2014!
Visit Christopher Tenggren’s Blog again soon at:
http://HomesInTheFoxValley.com/blog
2013 Homes Sales vs. Property Showing Trends
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