{"id":238,"date":"2020-09-03T06:45:00","date_gmt":"2020-09-03T06:45:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2020\/09\/03\/july-2020-home-buyer-traffic-surges-60-7-percent\/"},"modified":"2025-03-13T02:00:37","modified_gmt":"2025-03-13T02:00:37","slug":"july-2020-home-buyer-traffic-surges-60-7-percent","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2020\/09\/03\/july-2020-home-buyer-traffic-surges-60-7-percent\/","title":{"rendered":"July 2020 Home Buyer Traffic Surges 60.7 Percent"},"content":{"rendered":"<p style=\"vertical-align: middle;\"><em><span style=\"color: #6d6e71;\">Buyer Demand Continues to Outstrip Supply Following Third Consecutive Month of Increasing Showing Traffic<\/span><\/em><em><span style=\"color: #6d6e71;\">&nbsp;<\/span><\/em><\/p>\n<p><!--more--><\/p>\n<h1 style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 2.15pt; padding-left: 11pt;\"><span style=\"font-size: 10.0pt; color: #003c50;\">Key Points:<\/span><\/h1>\n<ul>\n<li style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 2.5pt;\"><span style=\"font-size: 10.0pt; color: black;\"> July showing activity increased 60.7 percent year over year after posting 50.1 and 21.4 percent increases in June and May, respectively<\/span><\/li>\n<li style=\"vertical-align: middle; margin-top: 0in; margin-right: 0in; margin-bottom: 2.5pt;\"><span style=\"font-size: 10.0pt; color: black;\"> For the third consecutive month, all four regions tracked by the ShowingTime Showing Index<sup>\u00ae<\/sup> saw year-over-year boosts in showing activity, again led by the Northeast, which saw a 76.6 percent jump, followed by a 56.7 percent increase in the West, a 52.1 percent uptick in the Midwest and a 46.7 percent gain in the South<\/span><\/li>\n<li style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\"> The number of listings set up to allow virtual showing appointments increased 28 percent vs. June<\/span><\/li>\n<\/ul>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">Home buyers were out in droves nationwide in June resulting in the second consecutive month of surging home showing <\/span><span style=\"font-size: 10.0pt; color: black;\">activity, with agents seeing 50 percent more showings per listing according to data from the ShowingTime Showing Index.<\/span><span style=\"font-size: 10.0pt; color: black;\">&nbsp;<\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">It marked the third consecutive month of growing foot traffic in all four U.S. regions, a sign of the continued resilience of the U.S. residential real estate market and sustained buyer demand. The latest data from ShowingTime also reveal continued adoption of virtual showings, as the number of listings set up to allow both in-person and virtual appointments increased 28 percent in July. <\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\"><img decoding=\"async\" src=\"https:\/\/www.realtrends.com\/blog\/wp-content\/uploads\/sites\/9\/2021\/01\/Screen-Shot-2020-09-02-at-9.47.22-AM.png\" alt=\"Screen Shot 2020-09-02 at 9.47.22 AM\" width=\"575\" style=\"width: 575px; display: block; margin: 0px auto;\"><\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">\u201cMultiple existing trends continued and were amplified in July as buyers competed for a dwindling supply of homes, pushing the level of competition and prices higher across all major regions of the U.S.,\u201d said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. \u201cPart of the imbalance can be attributed to the fact that potential sellers are not yet seeing the latest negotiated selling prices, which usually come out with a one-to-two-month delay.<\/span><span style=\"font-size: 10.0pt; color: black;\">&nbsp;<\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">\u201cIn previous years, July would be the month when real estate activity begins to slow down,\u201d Cherkasskiy said. \u201cIn 2020, July became the peak month of the delayed busy season. A glimpse at August trends also suggests that demand is staying at this high level and may continue to do so through at least September.\u201d<\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">For the second consecutive month, the Northeast saw the most significant boost in year over year activity, with a 76.6 percent increase. The West followed, with a 56.7 percent jump, while the Midwest recorded a 52.1 percent increase and the South saw a 46.7 percent uptick. <\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">\u201cAll indications point to sustained growth in buyer demand, and we\u2019re committed to helping agents meet it,\u201d said ShowingTime President Michael Lane. \u201cThe rate of agent adoption of ShowingTime LIVE Video continues to increase, which demonstrates its utility as a valuable tool to keep showings going when in-person showings aren\u2019t possible.\u201d<\/span><span style=\"font-size: 10.0pt; color: black;\">&nbsp;<\/span><\/p>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\">The ShowingTime Showing Index, the first of its kind in the residential real estate industry, is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services, providing a benchmark to track buyer demand. Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Localized MLS indices are also generated for select markets and are distributed to MLS and association leadership.<\/span><\/p>\n<h3 style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: #003c50;\">About ShowingTime<\/span><\/h3>\n<p style=\"vertical-align: middle;\"><span style=\"font-size: 10.0pt; color: black;\"><a href=\"http:\/\/www.showingtime.com\" rel=\"noopener\" target=\"_blank\">ShowingTime <\/a>is the residential real estate industry\u2019s 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, agents and other real estate companies, as well as a recruiting tool for brokers. ShowingTime products are used in 370 MLSs representing one million real estate professionals across the U.S. and Canada. For more information, contact us at research@showingtime.com. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buyer Demand Continues to Outstrip Supply Following Third Consecutive Month of Increasing Showing Traffic&nbsp;<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[],"class_list":["post-238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>July 2020 Home Buyer Traffic Surges 60.7 Percent<\/title>\n<meta name=\"description\" content=\"July 2020 Home Buyer Traffic Surges 60.7 Percent\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realtrends.com\/blog\/2020\/09\/03\/july-2020-home-buyer-traffic-surges-60-7-percent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"July 2020 Home Buyer Traffic Surges 60.7 Percent\" \/>\n<meta property=\"og:description\" content=\"July 2020 Home Buyer Traffic Surges 60.7 Percent\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.realtrends.com\/blog\/2020\/09\/03\/july-2020-home-buyer-traffic-surges-60-7-percent\/\" \/>\n<meta property=\"og:site_name\" content=\"RealTrends - 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