Oct. 24, 2018 – The ShowingTime Showing Index® revealed today that homebuyer demand remains high throughout much of the country despite showing activity leveling off from last year’s record numbers.
The September 2018 U.S. Index exhibited a 3.5 percent year-over-year decrease in showing traffic, the second consecutive month the national index has decreased from last year’s historic heights.
September showing activity also decreased year-over-year in the Northeast (-6.0) and Midwest (-2.8 percent) regions, marking the fifth straight month of declining showing traffic in the Northeast and second straight in the Midwest.
The West Region, which has experienced high prices and tight inventory for much of the year, decreased 17.2 percent year-over-year. September is the eighth consecutive month the region has exhibited year-over-year declines.
“Most regions posted year-over-year decreases last month, which is a continuation of the trend we’ve been tracking for the West Region,” ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. “For the Midwest Region, though it has posted a slight year-over-year decline, pending next month’s adjustment, it’s more the result of the Showing Index hovering close to all-time highs over the last 18 months.”
The South Region continued to experience an increase in showing activity despite Hurricane Florence hitting land on Sept. 14, exhibiting a 5.4 percent year-over-year increase. That increase is due to showing traffic decreasing following Hurricane Irma in September 2017.
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, which facilitate more than 4 million showings each month.
Released on or around the 20th each month, the Showing Index tracks the average number of appointments received on an active listing 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 showingtime.com/showingtime-showing-index/.