More consumers are shopping for properties online. realtor.com’s monthly traffic surged to an all-time high in June, which topped May’s record of unique users. In one single day, June 25, realtor.com’s traffic reported a record high of 7 million unique users.
But home shoppers have fewer homes to view online. Total listings remain 31% below a year ago.
“The consistent, record-level home buyer interest we’ve detected on realtor.com over the last five weeks is setting up the tightest summer homebuying season on record,” says Javier Vivas, director of economic research for realtor.com. “All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels. With supply at record lows, the backlog of demand portends increased competition and a seller’s market in the weeks ahead.”
Still, Vivas cautions that “while buyers are back, growth in home sales this summer will be constrained by the slow return of sellers and the limited amount of homes hitting the market.”realtor.com’s Housing Market Recovery Index shows the West continuing to lead the real estate recovery. The region is now above its pre-COVID benchmark. The Northeast surpassed its recovery baseline last week. The South and Midwest remain below their pre-COVID benchmark but are making a steady recovery, realtor.com notes.
Source: National Association of Realtors, Realtor Magazine,
Ready to Sell in Bucks County?
Before you list your home for sale, call the John McClintock Team at 267‑759‑9518 for no obligation recommendations on pricing and an overview of our comprehensive marketing package that includes, home staging, brokers' open house, virtual tour, video tour and social media sharing.