Hello and welcome! Let’s dig into the latest housing market activity. In addition to our regular weekly report, these weekly and monthly charts go beyond some of the higher-level trends. Here’s what the latest data are telling us:
- Rates easing slightly (but not enough) from 7.5 down toward 7.0 wasn’t sufficient for a year-over-year increase in showing activity. Activity does slow down around Labor Day, but we’re comparing to the same week last year. Only two of nine price ranges saw a year-over-year gain in showings. The $600-800K range saw a 11.7 percent increase in showings while the $800K-1M range had a more modest 2.1 percent gain.
- Showings were down 16.1 percent overall compared to the same week last year. The $300-400K segment still comprised the largest share of all showings at 24.3 percent while the $1M+ segment comprised 2.5 percent and homes under $200K made up 16.2 percent.
- Only the $120-150K range had an increase in new listings compared to the same week last year but both the $1M+ bracket and the $750-1M range both had notable gains in signed purchase agreements.