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:
- Showing activity was down 2.5% compared to the same week last year, however, market rate homes and above had an increase in showings.
- Showing activity dipped as average mortgage rates rose slightly above 7.0%, a common trend we’ve been tracking for the past year.
- The largest gain in showings was on properties priced between $500K-600K, where they rose 21.5%. The next largest increase in showings was in the luxury range where they rose 20.8%.
- Listings priced under $200K comprised about 13.4% of showings. Listings over $1M rose to 2.8% of all showings. The largest share of showings (26.8%) still occur on listings between $300-400K.