ShowingTime Showing Index®
A Leading Indicator of Current and Future Demand Trends in the Real Estate Industry
The residential real estate industry’s seasonal slowdown arrived early this year, as the U.S. ShowingTime Showing Index® revealed that showing traffic throughout the country slowed from last year’s record highs for the fourth consecutive month after more than a year of increasing activity.
The August 2018 national index dropped just below even with last year’s mark, declining 0.6 percent compared to August 2017. This marks the fourth straight month the index has measured only slight changes in showing activity, averaging a 0.3 year-over-year increase during that time period. The previous nine months averaged a 5.6 percent year-over-year increase.
The West Region experienced a year-over-year decrease for the seventh consecutive month, as showing traffic declined 8.9 percent compared to August 2017, while the Northeast (-1.0) decreased for the fourth consecutive month. Showing activity in the Midwest also fell 2.2 percent compared to last year.
The South Region, meanwhile, continued to experience heightened showing traffic in August as activity increased 4.9 percent compared to last year. It’s the eight consecutive month showing activity in the South has outpaced the national index.
The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.
Our national and regional indices – seen as quadrants on a map of the United States below – are computed based on a representative sample of more than 100,000 listings from 25 local markets across the United States. Our methodology focuses on properties listed by agents subscribing to ShowingTime’s full appointment management solutions at the agent and office levels.
It includes all buyer showing appointments requested or logged across all ShowingTime systems including ShowingTime for the MLS, ShowingTime Front Desk and the ShowingTime Appointment Center.
We’re also developing localized versions of the Showing Index, which will be available in certain MLS markets.
“The best in the country in showing statistics.”
Lawrence Yun, Chief Economist, National Association of REALTORS®