July showings tempered, according to ShowingTime’s Showing Index®. Activity on an annual basis increased 0.3 percent—marking a slowing—with Northeast traffic down 2 percent and traffic in the West down 6.5 percent. Midwest traffic as up 0.6 percent, and South traffic was up 4.6 percent.
“The ShowingTime Showing Index has been forecasting a slowdown for the past few months due to showing activity remaining relatively steady or lower compared to last year, which has been in large part affected by lower inventory in several major markets in the West region,” says Daniil Cherkasskiy, chief analytics officer at ShowingTime. “That trend now appears to be impacting some areas of the Northeast, as well.”
The ShowingTime Showing Index is compiled using data from property showings scheduled across the country on listings using ShowingTime products and services, which facilitate more than four million showings each month. The Index tracks the average number of appointments received on an active listing during the month.
For more information, please visit www.showingtime.com/index.
For the latest real estate news and trends, bookmark RISMedia.com.
