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:
- Predictably, showing activity has an inverse relationship with the to 30-year mortgage rate: lower rates, higher showings and vice versa. There were over 14,000 showings during the week which was a 2.9% jump in showing activity compared to the same week last year.
- Six out of nine price ranges had an increase in showings compared to a year ago, mostly concentrated in the upper end.
- The largest gain in showings was on properties priced between $800K-1M, where they rose 53.3%. The next largest increase in showings was in the $500-600K range where they rose 36.3%.
- That $800K-1M range comprised 2.3% of all showings, edging just higher than the $1M+ bracket. The bulk of showings (27.8%) still occur on listings between $300-400K.