In a sign of today’s inventory-challenged times, the number of markets averaging double-digit showings per listing jumped 45% from 75 to 109 from last year—a marked increase from the early spring frenzy of home tours of 2021, according to the latest ShowingTime Showing Index®, released this week.
The latest data from ShowingTime, shows that home buyers got a head start in February on what is proving to be a sustained busy stretch, with Denver and Seattle recording close to 25 showings per listing.
Markets with year-over-year increases:
- Nashville, TN +43%
- Orlando, FL +36%
- Bridgeport, CT +30%
- Dallas, TX +29%
- Sarasota, +FL 28%
- Charlotte, +NC 24%
Year-over-year market activity by region:
- South +19.5%
- Northeast +16.6%
- Midwest +10%
- West -13.6%
February’s brisk activity throughout most of the country was in keeping with a trend that began in May 2020, immediately after COVID-19 slowed real estate activity, buyers re-emerged to find their next home amid a shortage of available inventory.
“Seeing 109 markets with such impressive buyer traffic is remarkable,” said ShowingTime Vice President and General Manager Michael Lane. “A year ago, we were amazed to see 75 markets hit double digits in showings per listing. The heightened activity is widespread, with 17 states having at least one market averaging in double digits. We’re here to help agents navigate these circumstances with new features integrated into our platform tailored to meet their needs.”
For example, ShowingTime’s waitlist feature notifies buyer’s agents as soon as an appointment time becomes available on a fully booked listing. The waitlist feature successfully scheduled more than 50,000 for agents who joined. Offer Manager is another option available to help agents track offers, easily update every agent on the status of their offer and share a side-by-side comparison with their sellers.
The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month on listings using ShowingTime products and services. It tracks the average number of appointments received on active listings during the month.
For more information, visit http://www.showingtime.com/.