Good morning Realtors®! Let’s dive 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:
- Last week, showing activity was down 16.9% compared to a year ago.
- All price categories saw a decline in showings compared to last year. The smallest year-over-year decrease in showing activity took place for homes priced $1M+, down 4.3%. Showings of homes priced between $300-400K were down 21.9% year-over-year.
- Homes priced between $300-400K still make up the largest share of showings (25.8%). Listings over $1M represented 3.4% of all showings.
- We saw an uncommon leap in sales for homes priced <$120K, but it only represents a growth of 7 total sales. Homes in this range are scarce, so small changes can mean large percentage changes relative to the total number.
- Mortgage rates averaged at 7.5% across the United States by the end of last week.
