Foot traffic and future home sales have a strong correlation. SentriLock, LLC. provides NAR Research with monthly data on the number of showings.
Foot traffic in the area covered by the Flagler County MLS (FL) experienced strong growth starting last fall. While traffic figures have eased from summer heights, they remain robust at nearly 7% stronger this October than last. Still, more demand is needed to sop-up high inventory levels.
Record low mortgage rates and steady price growth are likely to continue to fuel consumer interest in home purchases and foot traffic through the winter.
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.