Consumers Continue Shopping for Homes in Most Regions as Low Inventory Persists

CHICAGO, June 21, 2018 /PRNewswire/ -- Homebuyer demand remained strong throughout the country in May as showing activity increased 1.2 percent year over year, according to the ShowingTime Showing Index®.

The South Region experienced a 3.8 percent year-over-year increase compared to May 2017, exhibiting the highest regional year-over-year increase for the third consecutive month. The Midwest (2.4 percent) and Northeast (0.2 percent) also had slight year-over-year increases.

Showing activity in the West Region dropped 5.2 percent compared to May 2017, marking its fourth consecutive year-over-year monthly decrease.

ShowingTime Chief Analytics Officer Daniil Cherkasskiy said May 2018's numbers are mostly comparable to the previous year, with the exception of the West.

"While the spring season saw a substantially higher level of buyer traffic, May numbers came mostly in line with the levels experienced last year," Cherkasskiy said. "Activity was up slightly year over year in the Midwest, South and Northeast, while the West Region declined."

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.

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 200 MLSs representing over 1 million real estate professionals across the U.S. and Canada.

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SOURCE ShowingTime

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