The Weekly Pulse | 1-16-24 Tags: Weekly Pulse

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:

  1. 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.
  2. Six out of nine price ranges had an increase in showings compared to a year ago, mostly concentrated in the upper end.
  3. 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%.
  4. 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.