The State(s) of Homebuying: January Edition

In January, overall buying activity registered at 52 in the National Association of Realtors' Buyer Traffic Index, down 17 points annually, and essentially flat from the previous month.

Buyer traffic softened annually in 16 states and in Washington, D.C., in November and December 2018, and January 2019. These states included California, Connecticut, Illinois, Iowa, Maryland, New Hampshire, Oregon, and Rhode Island. States with the strongest traffic over the previous year's reading include Alabama, the Carolinas, Georgia, Idaho, Indiana, Utah, and Wisconsin, according to NAR's data.

The REALTORS® Buyer Traffic Index has hovered at near 50 since August 2018 when the index fell to 51 and remained at below 50 through December 2018. The January reading of 52 indicates a slight upturn in homebuyer traffic as mortgage rates started falling in January 2019. As of the week of February 14, the average 30-year fixed mortgage rate fell to 4.37 percent, from a high of 4.94 in the weeks of November 8 and 15.

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