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 Shasta Association of REALTORS® rose 2% in July of 2013 compared to a year earlier. July was the second consecutive month of year-over-year gains following four months of consecutive declines in foot traffic.
Traffic may ease due to higher mortgage rates since May, but that trend has not developed here yet.
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.