The Weekly Pulse | 9-18-23 September 18, 2023
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 were down 8.4% overall yet rose in five out of nine price ranges. This may seem counter-intuitive, but the key is that sales aren’t equally weighted across price ranges and are weighted toward the ranges that were down. The biggest gains were in the $800K-1M range saw a 21.5% increase in showings while the $600-800K range had a 9.6% gain.
- The $300-400K segment still comprised the largest share of all showings at 26.6% while the $1M+ segment made up 2.67 percent. That top luxury segment was only slightly lower than the $800K-1M range, where 2.75% of showings took place.
- With housing supply questions still center stage, new listings rose the most in the $1M+ segment, followed by the most affordable segment. The largest decline in seller activity was in the $150-190K range, where new listings fell 21.5%.