May Residential Real Estate Traffic Down in 75% of Regions, but More Comparable to Prior Year

Northeast Region Posts First Year-over-Year Increase in Buyer Traffic Since April 2018, while U.S. as a Whole Reports Slightly Lower, but More Stable Showing Activity

June 21, 2019 – 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 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.

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, visit showingtime.com/showingtime-showing-index.

About ShowingTime

ShowingTime is the residential real estate industry's leading showing management and market stats technology provider, with more than 1.2 million active listings subscribed to its services. Its showing products and services simplify the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and more efficient sales. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers and other real estate companies. ShowingTime products are used in more than 250 MLSs representing over 950,000 real estate professionals across the U.S. and Canada. For more information, contact us at [email protected].