Anyone can observe that buyer traffic is down from last year, but a new report tacks a number to that decline – and it’s a big one.
We’re hardly the first publication to point out that buyer traffic has decreased from 2013 to 2014, and that for numerous reasons – higher mortgage rates and rising home prices chief among them – consumer interest in housing has waned.
However, thanks to a new survey from Credit Suisse, we can now apply a numerical dimension to that decline in buyer traffic, and unfortunately, it’s a mighty big number.
Buyer Traffic Fell by How Much?
According to the Buyer Traffic Index, a component of Credit Suisse’s Monthly Survey of Real Estate Agents, buyer traffic in Houston’s housing market has fallen by 55 percent from June 2013 to June 2014; that’s 8 percentage points higher than the national average, a still-whopping 47 percent.
So, how does that 55 percent decline compare with other metro areas? Take a look at our graph below to find out: