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"Although the residential real estate industry has entered its regular seasonal slowdown period, demand continues to be strong relative to the supply of homes."
CHICAGO, IL, December 20, 2017 /24-7PressRelease/ -- Home showings on the national level posted an 8 percent year-over-year increase in November, continuing a nine-month upward trend since the ShowingTime Showing Index was launched to measure buyer demand.
The Midwest Region had the highest year-over-year increase in showings at 9 percent, while the Northeast posted an 8.6 percent increase. The South Region saw a 7.3 percent increase, while the West recorded 5.5 percent more showings in November 2017 compared to the same period last year.
"Although the residential real estate industry has entered its regular seasonal slowdown period, demand continues to be strong relative to the supply of homes," ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. "This trend should continue across the board throughout the holiday season with more buyers looking at listed properties compared to 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, which facilitates more than 4 million showings each month.
It tracks the average number of appointments received on an active listing during the month. The Showing Index, released the third week of each month, will eventually be released on a weekly basis. Local MLS indices are also now available for select markets, and are distributed to MLS and association leadership to provide them with another resource to share with members and to communicate to local media.
To view the full report, visit www.showingtime.com/index.
ShowingTime is the leading market stats and showing management technology provider to the residential real estate industry. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies. Its showing products and services take the inefficiencies out of the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and quicker sales. ShowingTime products are used by more than 180 MLSs and associations representing more than 900,000 real estate professionals across the United States and Canada.
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