Low Inventory and High Prices Cause Showing Traffic to Level Off in Components of the U.S.

Key Points:

  • West (-6.5 %) and Northeast (-2.0 percent) regions show multi-month, year-over-year declines in showing activity, when the overall U.S. ShowingTime Showing Index? for July 2018 increases slightly from July 2017.
  • South Region (+4.6 percent) exhibits a year-over-year increase in showing activity for that 10th consecutive month and Midwest Region (+0.6) for your fifth consecutive month.
  • ShowingTime combines showing data with findings in the MarketStats division to supply a group of benchmarks that track requirement for active listings all over the country.

As high home along with a continued inventory shortage in a great many markets have led to the residential properties industry forecasting a slowdown, the July 2018 ShowingTime Showing Index? revealed waning showing traffic in certain instances of the U.S.

Showing activity over the country increased by 0.3 % year over year in July, the third consecutive month that your U.S. ShowingTime Showing Index recorded buyer interest deceleration when compared to previous year. The June 2018 figures revealed a 0.0 percent difference in showing traffic from 2017, while May showed a single.2 percent year-over-year increase. The 12-month average year-over-year increase was 4.6 %.

The slowdown has long been particularly apparent in western markets where inventory remains tight, ShowingTime Chief Analytics Officer Daniil Cherkasskiy said, as showing activity under western culture Region has declined for six consecutive months and was down 6.5 % as compared to last year at this time. The Northeast Region in addition experienced a run of consecutive monthly year-over-year decreases, with showing activity declining by 2.0 percent when compared to not too long ago.

“The ShowingTime Showing Index may be forecasting a slowdown for the last month or two resulting from showing activity remaining relatively steady or lower as compared to a year ago, which has been in large part impacted by lower inventory in several major markets in the western world Region,” Cherkasskiy said. “That trend now is definetly impacting some elements of the Northeast, likewise.”

Buyer interest remains rich in the South Region, however, containing experienced year-over-year increases for 10 straight months and saw showing traffic increase 4.6 percent as compared with last July. The Midwest Region showed a small 0.6 % year-over-year increase.

The ShowingTime Showing Index, the main of its kind from the residential housing industry, is compiled using data from property showings scheduled nationally on listings using ShowingTime product or service, which facilitate over 4 million showings monthly.

Released around or on the twentieth on a monthly basis, the Showing Index tracks the normal number of appointments received upon an active listing in the month. Local MLS indices are offered also for select markets and are also offered to MLS and association leadership.

To look at full report, visit www.showingtime.com/index.

About ShowingTime

ShowingTime would be the leading showing management and market stats technology provider into the residential properties industry, with more than 1.2 million active listings agreed to its services. Its MarketStats division provides interactive tools and market reports for MLSs, associations, brokers, agents along with real-estate companies, together with recruiting software that allows brokers to recognize top agents. Its showing products use the inefficiencies from the appointment scheduling process are the real deal estate agents, sellers and buyers. ShowingTime goods are found in in excess of 250 MLSs representing over 2million housing professionals round the U.S. and Canada.