Home showing traffic across the U.S. dropped off in April, according to ShowingTime’s Showing Index report released Tuesday.
In April, home showing traffic was down 10.7% year over year and 12.1% month over month, with a nationwide average of 8.49 showings per listing. In total, 103 of the markets analyzed hit a double-digit ratio of showings per listing in April, down from 121 a month prior and 146 a year prior.
ShowingTime’s index is compiled using data from more than 6 million property showings scheduled across the country each month on listings using ShowingTime products and services. In addition, it tracks the average number of appointments received on active listings during the month.
While ShowingTime acknowledges demand started tapering off this spring, compared to the frenetic level of activity a year ago, experts still believe there’s robust buyer activity.
“April buyer activity was rather unusual, since it typically matches March levels,” Michael Lane, ShowingTime’s vice president and general manager, said in a statement. “But this year, April traffic was slower across all markets, pointing to competition softening. It contrasts with last year’s dynamic, when demand reached a feverish peak in April.”
The nation’s 25 busiest individual markets averaged more than 14 showings per listing. Topping the list was Burlington, Vermont, with an average of 20.3 showings per listing, up 16% year over year, followed by the Bloomington-Normal metro area in Illinois, with 16.4 showings per listing, a year-over-year increase of 62%. Richmond, Virginia (15.6 average showings per listing), Denver, Colorado (15.5), and Akron, Ohio (15.2) rounded out the nation’s top five.
On the other end of the spectrum for average showings per listing in April were Kansas City, Missouri (13.2), Fort Collins, Colorado (13.2), Detroit (13.1), Spokane, Washington (13), and Boulder, Colorado (12.9).
All four major U.S. regions saw year-over-year decreases in showings per listing, with the West recording the largest decrease at 35.3%, followed by the South (11.6%), the Northeast (8.6%), and the Midwest (7.3%).
