Foot traffic can provide great insight into the direction 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 Harrisonburg Rockingham Association of REALTORS® (PA) was 28% stronger in February compared to the same time a year earlier. This is the 5th consecutive month of year-over-year growth in sales.
This month’s trend suggests stronger sales during the early spring market compared to last year. Steady employment gains coupled with record mortgage rates are drawing potential buyers to open houses.
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.