Foot traffic provides a strong indication of future home sales. SentriLock, LLC. provides NAR Research with monthly data on the number of showings.
Foot traffic in the area covered by the Zanesville Board of REALTORS® (Ohio) was nearly unchanged from the prior year for most of 2011. However, foot traffic surged by 57% in January of this year relative to January of last year.
While employment and consumer confidence have a long ways to go to improve, recent increases and record low mortgage rates are helping to drive steady interest in housing.
Ken Fears is the Manager of Regional Economics and Housing Finance Policy. He focuses on regional and local market trends found in the Local Market Reports and the Market Watch Reports . He also writes on developments in the mortgage industry and foreclosures.