Economists' Outlook

Housing stats and analysis from NAR's research experts.

April 2020 Foot Traffic Report

Home viewings data from SentriLock®, LLC, a lockbox company, indicates a continued downward trend in home buyer traffic in April 2020 with respect to the prior month and one year ago in the wake of coronavirus social distancing measures, stay-at-home orders and the unprecedented rise in unemployment.

  • The Sentrilock® foot traffic index decreased 11.7 points in April from the prior month and is down 38.3 points from one year ago.
  • The April 2020 Sentrilock® foot traffic index of 1.8 points represents the index’s all-time low. This means that nearly all 200 boards in the Sentrilock foot traffic index reported weaker foot traffic compared to one year ago.
  • The 30-year fixed-rate mortgage averaged 3.23 percent for the month of April which represents the lowest rate recorded and a decrease of 10 basis points from the prior week. New home mortgage purchase applications also decreased in April by 12 percent. U.S. total nonfarm payroll employment decreased by 20.5 million in April, as the unemployment rate increased to 14.7 percent as a result of the coronavirus pandemic and measures taken to inhibit it.
Line graph: Diffusion Index of Sentrilock Foot Traffic April 2018 to April 2019
Line graph: U.S. Weekly Average Mortgage Rates as of April 30, 2020