Northeast Region Sees Third Consecutive Month of Increased Buyer Traffic
Midwest, South and West Regions Report More Moderate Year-Over-Year Declines
- Showing traffic in the Northeast Region was 2.7 percent higher year over year, continuing a trend that began in May
- July showing activity across the U.S. was down 0.6 percent year-over-year, the smallest decline in a year
- Year-over-year buyer traffic declined more moderately than in prior months in the West (4.1 percent), the Midwest (3.3 percent) and the South (1.1)
The Northeast recorded its third consecutive month of heightened home buyer activity in July compared to the same time last year, while the U.S. as a whole reported its smallest decline in year-over-year showing activity in the past 12 months, according to the latest ShowingTime Showing Index® report.
The 2.7 percent year-over-year increase in showing activity in the Northeast represents the largest such increase in the region since April 2018. Year-over-year declines in showing activity continued in the other regions but at lower rates, with the West Region’s 4.1 percent year-over-year decline its lowest since March 2018. The South’s 1.1 percent decline was its lowest since September 2018, while the Midwest was down 3.3 percent compared to the same time last year.
“Buyer traffic has a lot of seasonal variation, so we need to compare last year’s numbers to understand the trend,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “While spring buyer traffic per listing was down sharply compared to 2018, from April onward we’ve seen a steady rebound. In July, national traffic was already roughly in line with last year’s numbers, and if the current trend continues, listings on average could see more showings this fall than what we saw in the fall of 2018.”
The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month.
Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership.
To view the full report, visit www.showingtime.com/index.
ShowingTime is the residential real estate industry’s leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback, and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in more than 250 MLSs representing nearly one million real estate professionals across the U.S. and Canada. For more information, contact us at [email protected]