Foot traffic can give 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 Siskiyou Association of REALTORS® (Mt. Shasta, CA) has been stronger all year as compared to 2011. Traffic has hovered between 20% and 140% stronger than a year earlier over the last twelve months and was 90% stronger in November as compared to a year earlier.
Record mortgage rates coupled with stabilizing prices and dwindling inventories are helping to drive this trend.
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.