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:
- Showings have been rising recently, moving inversely to the to 30-year mortgage rate. There were nearly 10,000 showings during the week which was a 3.6% jump in showing activity compared to the same week last year. This reflects mortgage rates settling from over 8% to around 6.7%.
- Nine out of nine. All price ranges had an increase in showings compared to a year ago. Overall there were 29.9% more showings than the same week last year.
- The largest gain in showings was on properties priced between $800K-1M, where they rose 154.2%. The next largest increase in showings was in the $1M+ range where they rose 91.1%.
- That $1M+ range comprised 2.21% of all showings, edging just higher than the next $800K-1M range at 2.19%. The bulk of showings (26.2%) still occur on listings between $300-400K.