Foot Traffic Hits 2nd Highest Level This Year

Each month, the National Association of Realtors receives data on the number of properties shown by Realtors during the month. Referred to as foot traffic, the number of people that are actively shopping to buy a house is generally a good indicator of future home sales. After all, the more people looking at homes, the more homes will sell. In December, the amount of foot traffic spiked, finishing at the second highest level of the year. The improvement coincides with a number of positive end-of-the-year economic reports and is a significant rebound following the previous month’s downturn. It also bodes well for the spring selling season. Increased interest among potential home buyers combined with historically low mortgage rates and a stronger job market should help boost home sales as the housing market’s busiest season begins. The data also matches the optimistic outlook of many industry analysts who say this year should be better for residential real estate as the market continues to stabilize and Americans gain confidence in the economy, their personal financial situation, and their local housing market.