South Region Heats Up as Buyer Demand Remains Steady in Many U.S. Real Estate Markets

ShowingTime Showing Index® records year-over-year consecutive gains for key U.S. markets

July 23, 2018, Chicago, IL – ShowingTime Chief Analytics Officer Daniil Cherkasskiy said that many U.S. real estate markets were just as busy in June as they were during an intense 2017, with buyers going on more showings in the South and Midwest regions of the country than they did at the same time last year.

Data compiled for the ShowingTime Showing Index® reveals that homebuyer interest overall remains strong, with the South experiencing the highest year-over-year increase in showing activity for the fourth consecutive month at 3.8 percent while the Midwest posted a year-over-year increase of 1.7 percent.

The West (-6.9 percent) and Northeast (-2 percent), however, experienced year-over-year decreases; nationally, the combined index indicated showing activity for all regions was up 0.2 percent.

"We've now seen five consecutive months of year-over-year decreases in the West Region, and are also seeing a moderate buildup of inventory in some western markets," Cherkasskiy said. "These two factors point to a potential slowdown in demand in the West while real estate prices stay at historically elevated levels."

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, which facilitate more than 4 million showings each month.

Released the third week of each month, the Showing Index tracks the average number of appointments received on an active listing 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, visit www.showingtime.com/index.

About ShowingTime

ShowingTime is the leading showing management and market stats technology provider to the residential real estate industry, with more than 1.2 million active listings subscribed to its services. Its MarketStats division provides interactive tools and market reports for MLSs, associations, brokers, agents and other real estate companies, along with recruiting software that enables brokers to identify top agents. Its showing products take the inefficiencies out of the appointment scheduling process for real estate agents, buyers and sellers. ShowingTime products are used in more than 250 MLSs representing over 1 million real estate professionals across the U.S. and Canada.