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Last week, showings were up 10.8% across the NorthstarMLS coverage area. Eight out of nine price ranges saw gains in showings compared to the same week in 2023. Homes priced over $600K had the strongest gains in activity. Homes priced bet

ween $300-400K made up about 28.0% of all showings, while homes priced over $1M comprised 2.8% of showings. 

Preliminary numbers for October show both new listings and pending sales up in the 10-15% range. The metro has now seen 6 consecutive weeks of year-over-year gains in pending sales and 8 consecutive weeks of year-over-year gains in new listings. And that’s despite a 30-year mortgage rate currently hovering around 7.0% after touching 6.1% following the Fed’s September rate cut. 

Unless you’ve been in hiding, you might be aware that an election is upon us. Prospective home buyers—particularly first-timers—are sometimes tempted to wait or are convinced something cataclysmic may happen the day after election day. The truth? Mortgage rates decreased leading up to 8 of the last 11 presidential elections. Homes sales rose after 9 of the last 11 presidential elections. New home prices went up after 10 of the last 11 presidential elections (2008 the exception). 

To view the latest Weekly Showings Report, click here.