Sometime ago I would publish a weekly update on the Portland Metro real estate market. I used the information gleaned from the RMLS, which had a simple graph indicating the frequency, during the prior week, of Supra Lockbox usage. This was compared to previous weeks.
From some reason, I stopped the weekly update. I still receive them every Monday and still review them. I base buyer traffic with this information. Most of the time it is very accurate.
The highs of the "BUYERS ARE OUT VIEWING" is indicated by the upswing in numbers of Supra Lockbox entries recorded.
The lows of the "BUYERS ARE NOT OUR VIEWING" is also indiated by the down-tick in numbers of Supra Lockbo entries recorded.
The past few weeks the graphs have looked like this Week Ending Sept. 30, 2012:
This is the chart from a year ago week ending Sept. 25, 2011:
Sept. 30, 2012 - Week Ending Count of the Supra Lockbox : 16,434
Sept. 25, 2011 - Week Ending Count of the Supra Lockbox: 15,675
YES the current tally shows a little dip in the overall percentage of usage . . . BUT there is almost 1,000 MORE times that the Supra Lockbox was used in comparison.
As both graphs show, there is a huge dip in showing activing beginning right about now.
**MY ADVICE TO BUYERS**
What that means for Buyers: If there is a time to buyers to buy a ticket and get on the ride -- thinking about buying -- the time to shop for a home is when there is LESS COMPETITION out there.
Less buyers on the Roller Coaster means Buyers might be able to enjoy the ride by getting on NOW . . . and not wait for the (sure to come) upswing.
Roller Coaster rides are fun.
Written for the AR contest: Real Estate Roller Coaster Ride
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.