Proprietary measure of showing activity is further sign of stronger market
August brought out potential homebuyers according to a measure of showing activity.
The ShowingTime Showing Index posted its first nationwide gain year-over-year in more than a year, with a 3.5% increase. It was also the first time since January 2018 that all four regions posted increased activity.
The Northeast led the rise in showing activity with a 5.9% rise, its most significant rise since March 2018. The South posted a 2.7% gain, the West gained 2.2%, and there was a 1.3% gain in the Midwest.
"The trend we saw in year-over-year buyer traffic in previous months continued across the U.S.," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years. If this trend continues, we are likely to see even more buyer competition this fall."
The index is based on the average number of appointments received on active listings from real estate agents who use ShowingTime products and services.
