May 5, 2023

Buyer Activity is Up Despite Higher Mortgage Rates

portrait of a young smiling family with thumbs up and home for sale sign

If you’re a homeowner thinking about making a move, you may be wondering: is this a good time sell?

Here’s the good news. Even with higher mortgage rates, buyer traffic is picking up speed.


Showings are Up

Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months.[1] Check out the graph below.

Showing traffic up again in February graph

As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. That’s likely because the limited number of homes for sale kept shoppers looking for homes even during the colder months.


To help tell the story of why the latest report is significant, compare foot traffic this February with each February for the last six years. It shows this was one of the best Februarys for buyer activity that we’ve seen. Check out the graph below.

Showing traffic is still higher than pre-pandemic years

The uptick in buyer traffic is even more noteworthy considering the increase in mortgage rates this February. The Freddie Mac 30-year fixed mortgage rate rose from 6.09% during the week of February 2nd to 6.50% during the week of February 23rd. But even with higher rates, more buyers were looking for a home.[2]

Older couple putting up a house for sale sign

Jeff Tucker, Senior Economist at Zillow, says that increased buyer activity could continue:


“More buyers will keep coming out of the woodwork. We always see a seasonal uptick in home shoppers in March and April…”[1]


If you’re considering selling your house, seeing buyers still active in the market this year should be encouraging. It’s a sign that buyers are out there and could be looking for a home just like yours. Working with a real estate professional to list your house now will help get your home in front of eager buyers today.


Summary

Rising foot traffic is a bright spot for this year’s housing market and indicates that buyers are looking to purchase this year, even with higher mortgage rates.

You may be interested in:

A close up of a real estate deed

What you Should Know About Deeds and Titles

April 9, 2025
Closing day is an exciting milestone for buyers and sellers alike. To complete the process of a home sale, a property’s ownership rights are formally transferred from the seller to the buyer. Here’s what you should know about deeds and titles:
A magnifying glass , pen , and a model house are on a wooden table representing a chart.

REALTORS® Confidence Index

March 28, 2025
The Market Outlook from the REALTORS® Confidence Index for sellers increased compared to last month.
A homeowners association document is sitting on a wooden table next to a pen and a book.

Homeowners Associations

March 28, 2025
In many housing markets, homeowners associations (HOAs) and other community associations can be a part of the homebuying (and owning) experience. Here’s what prospective buyers should know:
A woman is kneeling down in front of a house holding a sign that says home for sale.

Marketing Your Home

March 28, 2025
Once you decide to sell your home, your agent will work with you to determine the best strategy to reach potential buyers and attract strong offers. Here are some considerations when marketing your home:
A wooden house with the words property tax written on it

Property Taxes

March 28, 2025
Wherever you buy a home in the United States, property taxes are a reality of homeownership. An agent who is a REALTOR® can help connect you with a tax expert in your area, but here are the basics:
A man is holding a sold sign in front of a house.

Navigating Multiple Offers

March 28, 2025
When your home is on the market, you may receive offers from multiple interested buyers. Offers can vary greatly, and you will need to determine which one is best for you. Here's what sellers should know:
A cardboard box with the words moving day written on it

Innovative Strategies for a Seamless Spring Move: 5 Secrets for Moving Success

April 1, 2024
As spring approaches, many homeowners gearing up to sell their homes face the daunting task of moving. However, with some innovative strategies and the right supplies, you can make the process smoother and more efficient. Here are five tips tailored specifically for home sellers embarking on a spring move:
A magnifying glass is sitting on top of a table next to two small houses.

How Much is My Home Worth in Today’s Market?

April 1, 2024
As spring approaches and the real estate market begins to bloom, homeowners gearing up to sell their homes are undoubtedly eager to secure the best offer possible. The key to achieving this lies in understanding how real estate agents value properties and determine listing prices. Here's a glimpse into the process:
A family stands in front of a house for sale sign

Facts about Closing Costs that Homebuyers Need to Know

April 1, 2024
Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re saving for the down payment for your new home, don’t forget you’ll need to prepare for closing costs too.
Show More