April 3, 2023 – Home showing traffic ticked up slightly in February, according to the latest data from the ShowingTime Showing Index®. Still down from the pandemic-driven highs of 2021 and 2022, monthly home showings are up, in line with patterns typical for this time of year.
While showing traffic is continuing to normalize, it remains above pre-pandemic levels; the overall index in February was 52% and 26% higher than in 2019 and 2020, respectively. Low inventory and high mortgage rates have created a tricky spring housing market for both buyers and sellers. Home buyers taking the next step of touring homes in person are facing a scarcity of new listings that is atypical for the start of the spring home shopping season.
Regionally, the West posted a 50% year-over-year decline in home showings, and the lowest monthly increase from January at just 0.6%. The Midwest led all regions with a 10% increase in showing activity from January, above the national increase of 6.2%. This could be an early signal that Midwestern markets will have stronger sales activity this spring than their Western counterparts.
“Home shoppers did venture out in February in similar numbers relative to January, even as yearly pending sales were down,” said Mike Lane, vice president of sales for ShowingTime+. “What happens next with mortgage rates will have a huge impact on market activity this spring.”
Agents can help their clients navigate this housing market with timely, reliable data. Several key reports from ShowingTime+ can help your clients understand what’s happening in their local market and give you actionable insights to confidently guide them. Learn more.
|Metropolitan Area||Ratio of Showings to Listings||Year-Over-Year Change||Month-Over-Month Change|
|Dallas–Fort Worth, TX||8.00||-49%||-3%|
|Las Vegas, NV||4.12||-33%||7%|
|Los Angeles, CA||5.53||-32%||5%|
|Miami–Fort Lauderdale, FL||7.92||-41%||1%|
|Minneapolis–St. Paul, MN||8.35||-33%||5%|
|New York, NY||9.37||-24%||6%|
|St. Louis, MO||8.66||-20%||2%|
|San Francisco, CA||5.10||-16%||3%|
|Virginia Beach, VA||10.40||-31%||8%|
 The ShowingTime Showing Index is compiled using data from more than 6 million property showings scheduled across the country each month for listings using ShowingTime products and services. It tracks the average number of appointments received for active listings during the month, then reports the numbers by region and nationally.
 Calculated using the average number of buyer showings per active listing on a monthly basis. February 2023
 February 2022–February 2023
 January 2023–February 2023