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- 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 Coronado Association of REALTORS® (San Diego, CA) has been consistently weaker than the prior year in each of the last 13 months.
- The year-over-year declines reflect an extremely tight level of inventory, which inhibits home visits.
- Regardless, traffic is robust and will likely result in strong sales later this year spring, but down from last year’s level as agents can’t sell inventory that is not on the market.
- Record mortgage rates coupled with stabilizing prices and steadily growing employment is helping to drive this trend.
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