The latest survey data from the National Association of Realtors finds that overall buyer demand is slower and "stable," but in more affordable states with sustained job growth, demand was "strong."
Buyer traffic was "very strong" in Idaho, and "strong" in Arizona, Georgia, Indiana, Nevada, Pennsylvania, and 15 other states. Only four states had "weak" buyer traffic: West Virginia, Alaska, Louisiana, and Illinois, according to NAR data. In the pricey coastal markets of California, Connecticut, Oregon, Washington, Hawaii, and New Jersey, buyer conditions were "stable" in the time studied, July to September 2018.
Based on REALTORS® who reported about their transactions in September 2018, home buying activity slowed compared to the level of activity one year ago on a national level, according to the September 2018 REALTORS® Confidence Index Survey. The REALTORS® Buyer Traffic Index slid to 51 in September 2018, ten points lower from one year ago to (57 in August 2018; 61 in September 2017). Homebuying is now hovering in the “stable” mode, with the index hovering around 50.
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