Every month SentriLock, LLC. provides NAR with data on the number of properties shown by a REALTOR®. SentriLock Lockboxes are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.
Home showings increased substantially in February as a result of current economic conditions. According to CDC data, the number of coronavirus (COVID-19) cases in the U.S. escalated in the second half of February so any effect on home buying has not shown up in the February foot traffic.
The foot traffic index increased 6.2 points in January from the prior month and was unchanged from one year ago.
The foot traffic index decreased by 11.5 points in December from the prior month and by 7.1 points from one year ago.
The foot traffic index slightly dropped 0.1 points in November from October.
Home showings picked up in September as mortgage rates continued to trend down, making a home purchase more affordable.
Home showings remained flat in July despite lower mortgage rates, as potential buyers appeared to have become more cautious given current economic conditions.