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Slower Traffic Offers Benefit To Buyers

In a fast-paced housing market, buyers have to move quickly. That means making big decisions without much time to think. It can be stressful. Anyone who was active in the market last year knows the feeling. This year, though, the market's rebalancing and that's meant changing conditions for buyers. And according to one recent analysis, some of the changes will make it easier for home shoppers in the months ahead. How so? Well, the once fast pace of the housing market has slowed. The data shows buyer traffic – as measured by home showing activity – has fallen 12.2 percent from where it was last year at the same time. And while showings are still above pre-pandemic levels, traffic is undoubtedly slower. That's welcome news for prospective buyers, as it means less competition, fewer bidding wars, and more time to consider options when looking at homes to buy. After the past two years, that should be a big relief to buyers.