Homebuyer Traffic Slow in April

Homebuyer traffic remained tepid in April, as confidence sits relatively low; however, distressed properties are becoming more attractive to investors.

Credit Suisse recently reported in a monthly survey that buyer traffic decreased slightly during the first month of spring. The company attributes this fluctuation to a profound importance of value.

Buyers — both investors and occupants — continue to focus on finding value, which presents challenges from sellers in most markets, according to the report.

Every month Credit Suisse surveys a nationwide network of real estate agents about current trends in the housing market. In April, the company received about 1,000 responses. Analysts calculate an index with levels about 50 representing positive trends and below 50 representing negative trends.

The National Association of Realtors reported recently that distressed properties are in high demand and driving a nationwide increase in existing home sales. According to the trade group, 39% of all first-quarter transactions involved distressed homes or condos.