It’s like clockwork every year. After Easter you see showing activity in Chicagoland start its annual descent until you get to Christmas. Then it starts all over again on January 1st.
The graph shows showing activity for this year (in orange) and goes back to 2020. What you see this year is that we hit our peak in showing activity right after Easter (the week of April 10th).
If you’re a buyer in this market right now, it certainly doesn’t feel like there are less buyers out there as most homes are listed and then have multiple offers on them right away. Inventory remains extremely low and is about 25% lower now than it was at this time last year. Even with interest rates in the high 6% range, buyer demand remains incredibly strong.