Although the buyer traffic index did improve, it is still below agent expectations as persistent issues with short supplies of quality inventory and buyer resistance to higher prices remain significant concerns, the latest Credit Suisse (CS) monthly survey of real estate agents said.
The November Buyer Traffic Index increased to 38 up from 37 in October, while the weighted traffic index was flat month over month.
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(Source: Credit Suisse)
Additionally, agents reported continued concerns over the economy and job security across several markets.
Interestingly, the report said that worries over the implementation of TRID appear to be having a small impact.
Since TRID, reports have come back on both sides of the spectrum on the impact of the new regulation. Here’s one that says it’s an obstacle and one that says it hasn’t caused any major lending delays.
According to Credit Suisse, the top markets in the nation are Atlanta, Dallas and Houston, based on single-family building permits.
3. Atlanta
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(Source: Credit Suisse)
The buyer traffic index slightly decreased in November, with the index slipping to 32 (from 39). As to why, agents reported continued stress to the impacts from a scarce supply of inventories, especially as some de-list or delay listing due to the holiday season.
2. Dallas
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(Source: Credit Suisse)
In Dallas, demand trends softened during November. The buyer traffic index pulled back to 43 (down from 60 in October). “This month agents broadly cited less urgency from buyers, with mentions of infrequent multiple bids and a more patient mindset,” the report stated.
1. Houston
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(Source: Credit Suisse)
According to the report, traffic trends were below agent expectations, with the index declining. The report added that energy employment remains the dominate theme in agent responses, with comments discussing less interest from buyers directly connected to the industry.
