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 during December in the area covered by the Valdosta Association of REALTORS® (GA) outpaced the level of foot traffic from a year ago.
December traffic was 16% stronger than 12-months earlier and was the third consecutive month in which year-over-year foot traffic was stronger.
This trend bodes well for home sales in the spring given last year’s unusually strong early spring sales pattern. Sub-3.5% mortgage rates, price growth, and modest, but steady employment growth is drawing fence sitters into the market.
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.