2020 marks the fourth year we’ve been providing monthly data with the ShowingTime Showing Index® and as we approach the next release of the latest numbers, now’s a great time to dive in to how the Showing Index can be used to help real estate professionals.
The purpose of the Showing Index is simple: To provide a glimpse into where the market is headed. To do that, we track the average number of showing requests on active residential properties made through ShowingTime, and provide that data in the form of an index around the third week of every month.
With millions of showings scheduled through ShowingTime every month, the results provide a reliable indicator of demand trends nationally and in the four regions designated by the National Association of Realtors® – the Northeast, South, Midwest and West.
The Showing Index has become a popular resource, with its findings cited everywhere from national media like the Washington Post and MarketWatch, to local media like the Charleston Post Courier and Chicago Agent Magazine.
Perhaps owing to its popularity, we get a lot of questions about the Showing Index. Below, we tackle a few of the more common questions we receive.
How is Showing Index data obtained and assessed?
The ShowingTime Showing Index measures showing traffic per residential property for sale by agents and brokers who utilize ShowingTime solutions to schedule showing appointments. A higher number means that an average home receives more buyer visits in a given month. All index values are scaled relative to the initial index value set to 100 for January 2014.
Each monthly Showing Index report highlights the current month’s index, the previous month’s index, the index during the same month the previous year and the percent change year over year. The report also highlights the Showing Index numbers for each of the previous 11 months, as well as providing a historical report by month compared against showing data since 2014.
How can the Showing Index be incorporated within an agent’s business?
There are two key ways that Showing Index data can be applied to a business strategy. They are:
1. Property showing data stands as a leading indicator of pending sales activity and market demand. Real estate professionals can use this data to make informed decisions about how they’ll be approaching the market in the months to come.
2. Incorporating it into market statistics products provides actionable data and reveals local market trends that agents can share with both buyers and sellers. As with ShowingTime’s MarketStats analytics offerings, details from the Showing Index can be used as a powerful tool to market yourself as an expert.
How is the Showing Index distinct from ShowingTime’s other analytics offerings?
Results from the Showing Index are available to all real estate professionals – we post the Index on the ShowingTime website – and are intended to provide a high-level overview of market conditions nationally and in the four regions in the U.S.
Analytics solutions like InfoSparks and FastStats are available for purchase at the MLS or association level. These reports are intended for deep analysis of local market activity, allowing users to create customizable reports that feature their branding, which can be shared on social media or on website.
If you’re a real estate professional and belong to an MLS that subscribes* to MarketStats by ShowingTime, you already have access to useful reports and charts for every situation.
For MLS and association staff who need to quickly generate reports and charts that summarize local market activity, MarketStats by ShowingTime can help. Contact us for more information.
*MLSs and associations subscribe to MarketStats by ShowingTime to provide ready-made statistical tools for members. MarketStats is currently sold only to MLSs and/or associations.