The Weekly Pulse | 1-8-24 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. 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%.
  2. 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.
  3. 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%.
  4. 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.