{"id":3455,"date":"2022-08-31T17:26:59","date_gmt":"2022-08-31T17:26:59","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2022\/08\/31\/july-buyer-demand-for-housing-continues-to-rebalance\/"},"modified":"2025-03-13T02:46:29","modified_gmt":"2025-03-13T02:46:29","slug":"july-buyer-demand-for-housing-continues-to-rebalance","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2022\/08\/31\/july-buyer-demand-for-housing-continues-to-rebalance\/","title":{"rendered":"July buyer demand for housing continues to rebalance"},"content":{"rendered":"\n<p>While the Burlington, Vermont market continues to see double-digit showings per listing in July, home showing traffic softened throughout the U.S. The real estate market continues to normalize after last year\u2019s record surge, according to the latest data from the ShowingTime Showing Index\u00ae.<\/p>\n\n\n\n<p>The year-over-year dip in buyer activity follows a general\u00a0market rebalancing\u00a0that\u2019s taking place across the country as available inventory increases while fewer buyers actively shop for homes. Both factors have eased competition compared to last summer\u2019s multiple-offer environment. <\/p>\n\n\n\n<p>\u201cThe slowdown in showings tracks with the <a href=\"https:\/\/www.realtrends.com\/blog\/articles\/homebuyers-are-not-turned-off-by-intense-drought\/\" target=\"_blank\" rel=\"noreferrer noopener\">overall market<\/a> rebalancing that\u2019s taking place across the country,\u201d said ShowingTime Vice President and General Manager Michael Lane. \u201cConditions for buyers are less competitive than they were last year at this time, while a general increase in available inventory in most markets has not only given buyers more options to consider, but more time to consider them.\u201d\u00a0<\/p>\n\n\n\n<p>The Northeast again saw the smallest dip in buyer demand in July, recording a 9.9% drop, followed by the Midwest\u2019s 13.5% decrease. The South\u2019s 24.2% drop came next, with the West again claiming the largest year-over-year decline at 44%. The U.S. overall saw a 16.8% dip in showing traffic in July.<\/p>\n\n\n\n<p>Burlington, Vt. again led all markets in showings per listing with an average of 12.1, marking the third consecutive month it claimed the top spot. Burlington was one of only four markets in the top 25 to see a year-over-year increase in the number of showings per listing, with Hartford, Conn., Appleton, Wis., and Syracuse, N.Y., also seeing modest increases.<\/p>\n\n\n\n<p>Trenton, N.J., recorded an unusual month-over-month increase of 4%, the only market in the top 25 with a gain in traffic compared to June. Among the top 50 busiest markets, just two other cities, El Paso, Texas, and Bremerton, Wash., recorded month-over-month gains, 2% and 4%, respectively.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home showing traffic softened throughout the U.S. in July as the real estate market continues to normalize after last year\u2019s record surge, according to the latest data from the ShowingTime Showing Index\u00ae.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[19],"class_list":["post-3455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>July buyer demand for housing continues to rebalance - 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