The West Region, which until August had experienced 18 consecutive months of flagging home buyer traffic, lead the four regions in year-over-year improvement with an 8.9 percent increase in buyer activity. The South followed with a 6.4 percent increase, the largest such improvement in the region since April 2018, with the Northeast Region’s 5.6 percent increase the next largest among the four regions. The Midwest’s more modest 0.8 percent year-over-year growth rounded out the nation’s promising month.
“September’s activity continued where August’s left off as the beginning of the fall season has gotten off to a slightly busier start compared to last year,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “Although the year-over-year boost for September seems high in the South Region, this can be largely attributed to tropical storm Florence’s presence in the area in September of last year. The Northeast and West regions continue to show higher levels of activity compared to last year, even in the face of the expected seasonal slowdown.”
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.