REAL ESTATE NEWS

Downtown Pedestrian Traffic Is Better Than It Has Been in Months

It increased more on weekends than weekdays because of more leisure trips.
Watch your step for the greater number of pedestrians in cities’ downtowns. Foot traffic in these areas across the country climbed 3.6% from July to August, after smaller month-over-month rises of 1.8% in July and 2% in June. And year-over-year, it increased even more, hitting 7.7% in August from 3.2% in July.

In fact, it was the best annual improvement since April when pedestrian traffic was 8.1% higher than in 2022, according to Springboard. 

A rise in foot traffic reflects fewer employees working at home, according to a prior GlobeSt.com report.

Weekend numbers also showed an increase rising from July by 11.5% versus 4.7% during the weekday period. The weekend increase was likely because of school vacations, which would have led to more leisure trips into downtowns. 

It should be noted, though, that the July numbers were down, lessened probably because of hot and stormy weather, which kept people away, the same Springboard report indicated.

The numbers also narrowed the gap from 2019 to -1.7% during the weekday period. And the greater M-o-M rise in pedestrian traffic in August meant the 2019 level narrowed by a quarter to -16.1% from -21% in July, the smallest gap to date. 

Also of note, leisure trips were higher in the afternoon versus during the breakfast period, the peak time for employees to travel to their offices. From after lunchtime, pedestrian traffic rose 4.7% more than in July while over the breakfast period, traffic rose by 2.9%.   


Source: GlobeSt/ALM