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 March in the area covered by the Jackson County Board of REALTORS® (Northern Alabama) outpaced the level of foot traffic from a year ago by 28%. This figure is strong, but not as strong as the 103% 12-month increase registered in October.
Regardless, foot traffic remains robust after nearly a year of year-over-year gains pointing to continued strong sales this spring.
Record low mortgage rates, price growth, and steadily improving job creation 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.