A measure of home buyer demand has gained as the low inventory in many US housing markets drives interest on a per-listing basis
A measure of home buyer demand has gained as the low inventory in many US housing markets drives interest on a per-listing basis.
Real estate listings analytics firm ShowingTime has been publishing its Showing Index for four years and the March 2018 reading hit its highest ever level following a 5.7% rise.
"The trend of increased showing activity has continued, and we've now reached an all-time high since the initial index value was set," ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. "The unprecedented low housing inventory has resulted in more demand per listing throughout the country."
The South led the gains with an 8.2% year-over-year rise in the index while there were also gains for the Midwest (6.2%) and Northeast (4.7%).
The West posted a 1.4% decline in buyers demand year-over-year, the second consecutive month it did so.
The index is compiled using appointment data from real estate agents using ShowingTime’s products which facilitate around 4 million home showing per month.
The rise in March followed a slightly lower pace of increases in February on a year-over-year basis. This was attributed to the very strong buyer demand a year earlier.
