Skip to main content

Realtor.com Sees Record Breaking Traffic As Summer Buying Season Continues

Jul 09, 2020
Couple shopping for a new home on the internet.
Director of Events

Realtor.com hit an all-time monthly traffic high of 86 million unique users in June 2020, breaking an 85 million unique user record set in May. The company also hit a daily traffic milestone with seven million unique users on June 25. Realtor.com believes that these recent milestones are signaling that buyers are back in full force despite the COVID-19 pandemic.

"The consistent, record-level homebuyer interest we've detected on Realtor.com over the last five weeks is setting up the tightest summer homebuying season on record," said Javier Vivas, the site's director of economic research. "All-time low mortgage rates and easing job losses have boosted buyer confidence back to pre-pandemic levels. With supply at record lows, the backlog of demand portends increased competition and a seller's market in the weeks ahead. While buyers are back, growth in home sales this summer will be constrained by the slow return of sellers and the limited amount of homes hitting the market.

According to Realtor.com, total inventory has dipped 31% over the last week, despite an improvement in new listings. As rates continue to stay at historic lows, homebuyers are snatching them off the market at a faster pace. According to the Realtor.com release, the median listing prices are continuing to grow at 6.2% over the last year, which happens to be an improvement from the pre-COVID-19 pace.

Click here to read more about the increase in traffic for Realtor.com.‍

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Jul 09, 2020
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024
UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Apr 25, 2024
More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

Apr 22, 2024
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024