The data indicates that there are still many interested buyers. The housing market hasn’t been as frenetic as it used to be during the “unicorn” years when demand was at an all-time high, mortgage rates historically low, and home values soared like never before. The market isn’t at a standstill, but it hasn’t been as frantic.

Nationally, the demand for housing is still high in comparison to normal years. Many buyers are taking action right now. Here are the numbers to prove it.

Traffic Showing

ShowingTime The Showing Index measures how often buyers tour homes. This graph uses the index to show activity among buyers over the last eight October.

The ‘unicorn years’ are highlighted in pink. The demand for unicorns has dropped since then. This is due to the higher mortgage rates. When you compare the 2023 market to the blue bars that represent the last normal year (2018-2019), it’s clear that buyers remain more active.

It’s not just about showing the traffic that shows there is still a high demand for it. The average number of days that homes spend on the market and the number of offers received by other sellers tell the same story.

Sellers Are Still Seeing Multiple Offers

According to the National Association of Realtors’s latest data, sellers receive an average of 2,5 offers for their homes. Here’s how it compares with recent years.

This is a lower number than what sellers received during the “unicorn” years ( in pink). The number of offers is slightly higher than last year. It’s also higher than in normal years before the ‘unicorns.’

Home Pricesd Right Sell Fast

Not only do sellers still receive multiple offers, but their houses are also selling quickly. This is a direct consequence of the strong demand from buyers. According to Zillow

“. . . Low inventory levels have sparked a surprising amount of competition. . . The demand for attractive listings at a reasonable price has been strong.

For a visual representation of how quickly homes are selling, let’s examine data provided by NAR for the median days spent on the market from 2018 to now.

The graph below shows that this year, homes are only sitting on the market for a little longer than during the hype of the “unicorn” years. Comparing the current market to previous normal years, the homes are still moving much quicker than before. This is good news for the sellers, as it indicates that there are buyers eager to buy right now.

Bottom Line

You’ve not missed the opportunity to sell when homes are being sold quickly, and sellers are getting multiple offers. Connect with a local agent when you are ready to trade.