The showing activity increases have had a bit of a plateau showing a slight increase over the last week. The markets that are being shown have shifted a bit as we are seeing a decline in showings in the starter markets, specifically the markets between $200,000 – $300,000. However there was a large improvement in the $400,000 – $500,000 range (move up market). The other price ranges have remained relatively stable while the sales have continued to climb. Year over year, CIR’s sales numbers are up 38.1% in the first two weeks of February compared to the same time period last year. That has led to an increase of 24.6% in sales year to date compared to 2019.
With the announcement yesterday that the Government is relaxing the rate that people will have to qualify under the stress test, it should help to continue the momentum in the starter markets. As we have been discussing, keeping the starter markets going will be pertinent to the higher price points moving as well.