According to Barclays, traffic conditions improved this month, with trends rising to levels above agents’ expectations. Barclay’s Buyer Traffic Index rose to 63 in July, up from 50 just the month before. Agents were encouraged by local economic activity, noting that more job growth in the area is supporting activity. They’ve heard from agents who are saying things like:
“Many large companies are moving headquarters to the area. We’re working with a lot of transferees moving to our area due to job relocation.”
Others pointed to better buying confidence, even as the supply remains tight and has been a constraint.
Home prices moved higher in July as well. Barclay’s Home Price Index rose to 94 in July, up from 90 in June. Agents indicated that fewer listings were on the market this month. The trend is set to continue upwards.
Says one agent: “Buyers are feeling more optimistic as competition subsides.”