Statistics from the company’s Real-Time Demand Pulse quantify the slowdown in the home purchase market in September, with a decline of 11.8% in offers made versus August.
There was also a mere 0.2% increase in consumers taking home tours over the same time frame.
Potential homebuyers are staying on the sidelines because of fluctuating mortgage rates, the government shutdown and the debt ceiling battle, the company said.
The number of offers made in the last week of September fell 0.3% from the prior week even though the no taper announcement drove rates down further.
In September 2012, there was a 4.5% increase in offers and 3.5% increase in tours over August 2012.