BrokerPulse

RealTrends Q32021 BrokerPulse sees brokers still optimistic about the market, wary of competition and wondering when inventory will rise.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

@properties leaders poised for strategic growth

Mike Golden and Thad Wong, co-founders of @properties talk growth through franchising.

Newsletter

The RealTrends BrokerSource and HousingWire OpenHouse newsletters deliver twice weekly information on trends, strategies, analysis, people, and news shaping the real estate industry.

AgentNewsletter

Homebuyer activity slows in July, ShowingTime Index

Showing per listing slowed in July but still above average

Homebuyer activity is slowing down, according to a recent ShowingTime Showing Index, but it’s still at record highs. Some 110 markets still averaged more than 20 showings per listing during the first five days listings are active – Lakeland, Fla., was one of the few markets that recorded a month-over-month increase in showings, while Seattle, Denver, Memphis and Orlando lead in double-digit showings

“In general, these are definite signs of cooling demand,” said ShowingTime President Michael Lane. “However, buyer traffic is still at historically high levels compared to pre-pandemic showings.” Of the top 30 markets tracked by ShowingTime, only Lakeland, Fla., recorded a month-over-month increase in showings per listing. The slowdown is consistent with the normal seasonality of residential real estate.

According to the Showing Index, 41 markets still averaged double-digit showings per listing during the month, led by Seattle, Denver, Memphis and Orlando. That was down from June, when 64 markets averaged double-digit showings per listing. In May, 113 markets recorded double-digit showings per listing, while in April that number was 146.

The South’s modest jump of 7.7 percent year-over-year growth in buyer demand put the region at the top of the country in July, followed by the West’s meager 0.4 percent uptick. The U.S. overall saw a 5.3 percent drop in showing traffic, with the Northeast seeing a 15.2 percent dip and the Midwest realizing a drop of 0.2 percent. 

“Although real estate demand continues to be in historic territory, for the first time this year the ShowingTime Showing Index posted a 5.3 percent year-over-year decline in July,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “The average number of showings per listing have been declining for four months now, at a faster rate than the typical slowdown in this part of the year. Showings per listing declined by 33% from March levels in 2021, while in a typical pre-pandemic year, July would be about 20 percent slower than March.”

The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month.

Most Popular Articles

Real estate leaders: Keep close eye on proposed legislation

In this edition of RealTrending, Steve Murray, senior advisor to RealTrends, talks about private property rights and how a case in Berlin, Germany, tells a story of what could happen here in the U.S.

Sep 20, 2021 By