Showing Traffic Declines initially in 1 year while in the South
- The South Region recorded a 3.8 percent year-over-year decline in showing activity in October, its first decline in Year, although the U.S. declined 5.0 percent, your third consecutive month showing traffic decreased vs. 2017
- Rising interest rates-which reached a seven-year high, based on data from the Federal House loan Mortgage Corporation (Freddie Mac)-likely impacted showing activity
- ShowingTime combines showing data with findings from the MarketStats division to give a number of benchmarks that track demand for active listings over the country
Showing activity during the South Region declined initially in Calendar year in comparison to 2017, the
West Region recorded its second consecutive month of year-over-year double-digit declines and activity all over the remaining U.S. declined for any third month when from 2017’s record numbers, good ShowingTime Showing Index?.
The South Region reported a 3.8 percent decline in October 2019 than the same time not too long ago,
as the U.S. Index decreased 5.0 percent year over year from 2017. October showing activity decreased during the Northeast (-3.0) with the fifth straight month as compared with 2017, even though the Midwest (-6.Five percent) recorded its third straight month of year-over-year declines.
The West Region Index recorded a 2nd consecutive double-digit decline, with showing activity off 14.4 percent in comparison to the same time a year ago. It was actually the ninth consecutive month areas has exhibited year-over-year declines.
Rising loan rates, which reached a seven-year high in line with data in the Federal Mortgage Mortgage Corporation (Freddie Mac), likely contributed to fewer buyers transpiring showings. The nation’s Association of Home Builders’ affordability index reported a 10-year low, another contributing factor.
“This is really a continuation of the trend were seeing with the U.S. since spring,” ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. “Despite a relatively healthy economy, all instances of america reported slower buyer traffic when comparing 2017’s record numbers. I will be closely tracking showing activity in January and February just as one indicator of buyer interest on 2019.”
The ShowingTime Showing Index, the earliest available today within the residential real estate investment industry, is compiled using data from property showings scheduled around the world on listings using ShowingTime services, which facilitate over 4 million showings month after month.
Released around or on the twentieth month to month, the Showing Index tracks the average number of appointments received while on an active listing over the month. Local MLS indices are also available for select markets and are also given to MLS and association leadership.
ShowingTime is a leading showing management and market stats technology provider towards the residential real estate investment industry, with 1.2 million active listings opted in for its services. Its MarketStats division provides interactive tools and market reports for MLSs, associations, brokers, agents, and other housing companies, in addition to recruiting software which allows brokers to determine top agents. Its showing products grab the inefficiencies away from the appointment scheduling process genuine auctions, buyers or sellers. ShowingTime backpacks are utilized in greater than 250 MLSs representing over 950,000 properties professionals across the U.S. and Canada.