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| Daniil Cherkasskiy |
CHICAGO,
IL –
In a welcome sign for the Northeast, which has experienced lower year-over-year
buyer traffic since April 2018, the region saw showings increase 1.5 percent in
May, according to the latest data from the ShowingTime Showing Index®.
The Northeast was the only region to report higher buyer traffic, however, as the U.S. as a whole was slower, albeit more in line with prior-year showing traffic.
The Northeast was the only region to report higher buyer traffic, however, as the U.S. as a whole was slower, albeit more in line with prior-year showing traffic.
The U.S. declined 2.3
percent, the lowest such decline since August 2018 after 10 consecutive months
of slower activity. The West Region continued its trend of slowing traffic,
seeing a 10.6 percent drop year over year.
The South and Midwest
saw more modest declines in activity at 4.1 percent and 3.4 percent,
respectively.
“Year over year, the situation is stabilizing with May 2019 roughly in line
with May 2018 and with the Northeast region crossing into positive territory,”
said ShowingTime Chief Analytics Officer Daniil Cherkasskiy.
“Activity in the
Midwest and South are also in line with last year as we continue to see
stronger traffic in the lower price quartiles of the market, with more
expensive homes still seeing less traffic compared to the same time last year.”
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.
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.
To view the full report, please visit showingtime.com/showingtime-showing-index/.
To view the full report, please visit showingtime.com/showingtime-showing-index/.
CONTACT:
Brian Sorenson
bsorenson@showingtime.com
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