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 February in the area covered by the Dyer County Board of REALTORS® (TN) outpaced the level of foot traffic from a year ago by 20%. This figure is strong, but not as strong as the 54% 12-month increase registered in January.
Regardless, foot traffic remains robust, pointing to strong sales this spring. This trend is supported by sub-3.5% mortgage rates, price growth, and steadily improving job creation that have helped to buoy the market for more than a year.
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.