A new monthly survey of realtors reported strong buying activity, but weak or unstable supply conditions and seller activity.
Respondents in only two states, Nevada and Rhode Island, reported strong supply conditions and seller traffic; over 20 states reported weak conditions. Meanwhile, only five states had respondents stating that the market had weak or 'very weak' buyer traffic, including West Virginia, North and South Dakota, Alaska, and Louisiana. The National Association of realtors reports that a strong buyer’s market has boosted home prices.
Nationally, the Realtors Buyer Traffic Index (62) indicates that buyer demand is stronger compared to conditions in the same month last year. Meanwhile, supply remained generally tight, with the Realtors Seller Traffic Index remaining below 50 (45). An index above 50 indicates that more respondents reported stronger than weaker conditions compared to one year ago.
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