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 1.4% increase compared to the same week last year.
- Six out of nine price ranges had an increase in showings compared to a year ago, mostly those above $400K.
- The largest gain in showings was on properties priced over $1M, where they rose 22.1%. The next largest increase in showings was in the $800K-1M range where they rose 20.2%.
- Listings priced under $200K made up 14.2% of showings while listings over $1M comprised 2.3% of all showings. The bulk of showings (26.3%) still occur on listings between $300-400K.