July 24, 2019 – For the second consecutive month, the Northeast Region reported a more modest year-over-year increase in buyer traffic while the rest of the U.S. saw signs of showing activity stabilizing, according to the latest ShowingTime Showing Index® report.
The 0.9 percent year-over-year increase in the Northeast is a positive sign for the region that had, until May, seen a full year of slower activity. Though the West, South and Midwest regions each saw drops in year-over-year activity, the declines were more modest compared to prior months. The West Region’s 5.8 percent decline is the smallest percentage decline in the region for more than a year, while the South’s 1.5 percent dip is the lowest since September 2018 – the last time the region saw a year-over-year increase in buyer activity.
“Year-over-year showing traffic continues to stabilize, as June’s overall activity was in line with June 2018 while the Northeast Region recorded a modest increase,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “Activity in the South and Midwest remains slightly slower than in 2018, though there is more buyer activity in the lower price quartiles of the market. Pricier homes continue to see less traffic compared to the same time last year.”
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, providing a benchmark to track buyer demand. ShowingTime facilitates more than four million showings each month.
Released monthly, the Showing Index tracks the average number of appointments received on active listings during the month. Local MLS indices are also available for select markets and are distributed to MLS and association leadership.