Credit Suisse October survey of real estate agents

Credit Suisse reported their latest survey of real estate agents on activity for the month of October 2009 for the nation.  Overall October traffic was slower than September.  However, according the Credit Suisse analysts , that does not tell the whole story. The beginning of October was actually busier than the month of September. This is in large part due to the ending of the home buyer tax credit on November 30, 2009.  Now with the extension of the tax credit and expansion of the tax credit it will be interesting to see if the traffic picks up again.  Credit Suisse sees that the first time home buyers have been pulled forward from future purchases and therefore we are likely to see a lull in activity at the end of 2009 and early 2010.  This of course remains to be seen.

Traffic seemed to slow in Minneapolis and Seattle, but was strongest in Las Vegas, Orlando, Fort Meyers, LA, and Washington D.C. where homes are most affordable and renters are fleeing to low cost of buying.