What Buyer Activity Tells Us About the Housing Market

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph to the right).

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger than usual, and a lot of that has to do with mortgage rates.

Michael Lane, VP of Sales and Industry at ShowingTime+, explains:

“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there . . .”

It’s important to note that mortgage rates hovered in the low 6% range in January, which played a role in the high number of showings. What does this mean? When mortgage rates eased, buyer interest climbed. The jump in home showings early this year makes one thing clear – while rates may be volatile right now, there are interested buyers out there, and when mortgage rates are favorable, they’re ready to make their move.

Bottom Line

An increase in showing activity in January is a good sign that there are buyers who are eager to purchase a home. If you’re thinking of selling your house, connect with one of our local Yamhill County REALTORS®. They have the expertise and knowledge to guide you through the selling process. If you need a referral, please let me know!

Source: Keeping Current Matters / Blog / March 16, 2023

20345 SW Pacific Hwy Suite 202

OR 97140

Newberg

$79,000 ’04 FLEETWOOD IN 55+COMMUNITY! Very unique 960 sq.ft. 2004 Fleetwood. 2 BR / 2 BA located in 55+ community. Solid wood cabinets, kitchen appliances include fridge and stove. No dishwasher. Master bathroom has tub and shower combo. Hardi plank siding. Soon to be vacant. Financing available OAC. Yard is small for easy landscaping. #14759

Sherwood

$129,000 ’96 REDMAN IN ALL AGES COMMUNITY! Stunning 2 BR / 2 BA,. Very spacious home with vaulted ceilings, tape and texture walls with soft corners. Oversized bedrroms and each bathrooms have tub and shower wrap around. Kitchen has abundant storage space - all appliances stay. Laundry room, separate family room off kitchen for premium entertaining space. Covered back credenza with shade from grape vines. Financing available OAC. #14770

NEWBERG

$95,000 GOLDENWEST IN 55+ COMMUNITY! 2 BR / 2 BA 1979 Goldenwest. $535 rent includes W/S/G. New roof in ‘16, high rise toilets, corner lot, 8x18 covered front deck. Fireplace, non-smoker, newer appliances, wall oven, glass top stove. Large utility room with built in desk. Large walk-in shower in hall bath. Heat Pump for low heating cost in the winter and cooling in the summer. Well maintained. Financing available OAC. #14775

Keizer

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Lafayette

$192,000 ’95 FLEETWOOD IN ALL AGES COMMUNITY! 1512 sq. ft. Super Good Cents w/ 6” exterior walls. 3 BR / 2 BA + den. Updated throughout. One year home warranty. Brand new heat pump. Exterior was painted and caulked for years of protection. Interior painted as well and added wanes coating. New kitchen appliances. New vinyl plank flooring. French doors in master bath. Financing available OAC. Very large fenced yard. #14761

$125,000 ’97 REDMAN IN ALL AGES COMMUNITY! Super Good Cents 3 BR / 2 BA 1456 sq. ft. in family community. Sits on perimeter of park w/large 8x12’ workshop w/power, insulation, & window AC, Heat pump w/AC inside. Large LR w/vaulted ceilings, wood laminate flooring throughout. Island in kitchen with several skylights. New roof in ‘17. New hot water heater ‘19. Tape & texture walls, ceiling fans, WD stay. Financing available OAC. #14766

$129,000 SUNNYBROOK IN ALL AGES COMMUNITY!

Hard to find 4 BR /2 BA inside one of Portland’s premier family communities! Ready for upgrades. Professional pool table incl. New roof in 2018, newer vinyl windows. Heat pump for low cost heating and cooling. Yard is perfect for entertaining. Oversized deck 8x30 and large manicured yard with grass and flowers. Financing available OAC. #14773

Newberg

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MCMINNVILLE - SOLD

$89,000 ’90 FLEETWOD IN ALL AGES COMMUNITY! 3 BR / 2 BA & Move in ready. Block from Columbia Elementary School & Discovery community park. Newer heat pump for lower heating cost & summer AC. All appliances incl. W/D stay. Split model for privacy w/ master on one end. Upgraded master walk-in shower. Double pane vinyl windows, Exterior freshly painted. Side by side parking. Financing available OAC. Fully fenced backyard for pets. #14769

$149,000 MODULINE IN ALL AGES COMMUNITY! Vacant and move in ready. Single car garage. 1080 sq. ft, 3 bdrm, 2 bath. On perimeter lot, overlooking green space. Split model with bedrooms at opposite ends of home. Double pane vinyl windows, new roof and heat pump in 2014. All appliances, inc W/D. Private 10’x24’ back deck, covered with screen enclosing. 11x24 garage with workshop. Financing available OAC. #14774

NEWBERG

$125,000 ‘94 LIBERTY IN ALL AGES COMMUNITY! Vacant super good cents home with 6” exterior walls. 3 BR / 2 BA on large perimeter lot w/fenced backyard. Split model with bedrooms at opposite ends. All appl. + W/D incl. Wood laminate flooring in living room and carpet in bedrooms. New roof in 2015 and newer heat pump for low heating cost in winter & AC in summer. Parking for 4 cars. Space rent is only $580/mo. Financing available OAC. #14777

NEWBERG - SOLD

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