Home Buyer Interest Up Again in November Nationwide
Showing Traffic Increases for Fourth Consecutive Month.
Key Points:
- U.S. showing activity increased by 12.6 percent year over year, the largest national increase since January 2017
- The West Region’s positive 23.1 percent year-over-year change in showing activity was the largest in November
- Homebuyer traffic in all four U.S. regions increased vs. 2018 for the fourth consecutive month
November home showing activity continued an upward trend of year-over-year growth following the fourth consecutive month of increased showing activity, according to the latest ShowingTime Showing Index report.
The nation’s 12.6 percent growth in home showings compared to activity in 2018 was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases. The West Region saw the greatest growth in activity in November, with a 23.1 percent jump – the region’s greatest in the history of the Showing Index. The South had the second greatest boost, with a 15.4 percent increase, followed by the Northeast close behind, which notched a 13 percent uptick. Rounding out the month of gains, the Midwest saw a 7.1 percent in home buyer activity.
“Although market slowdown is typical around the holidays, November 2019 was one of the busiest Novembers on record,” said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. “While different markets saw varying levels of activity, several saw a substantial increase, as a greater number of buyers continued their search for a home than we typically see during the season. In addition, the lateness of Thanksgiving this year compared to last year’s early holiday pushed the year over year number of showings even higher in November.”
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 https://www.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, as well as a recruiting tool for brokers.
ShowingTime products are used in more than 250 MLSs representing nearly one million real estate professionals across the U.S. and Canada. In September, Showing-Time acquired Centralized Showing Service, Inc. (CSS) to better serve the needs of clients in the residential real estate industry. The two established companies bring together a combined 43 years of experience helping real estate professionals and their clients. For more information, contact us at research@showingtime.com.
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