The Weekly Pulse | 9-5-23 September 5, 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:
- Rates easing slightly (but not enough) from 7.5 down toward 7.0 wasn’t sufficient for a year-over-year increase in showing activity. Activity does slow down around Labor Day, but we’re comparing to the same week last year. Only two of nine price ranges saw a year-over-year gain in showings. The $600-800K range saw a 11.7 percent increase in showings while the $800K-1M range had a more modest 2.1 percent gain.
- Showings were down 16.1 percent overall compared to the same week last year. The $300-400K segment still comprised the largest share of all showings at 24.3 percent while the $1M+ segment comprised 2.5 percent and homes under $200K made up 16.2 percent.
- Only the $120-150K range had an increase in new listings compared to the same week last year but both the $1M+ bracket and the $750-1M range both had notable gains in signed purchase agreements.