Overall showing activity declined in May but by the smallest share in a year
Real estate agents in one major US region were kept busy with showings in May while the overall picture was less rosy.
But despite the nationwide decline in showing activity, it was a smaller year-over-year decline than any month since April 2018 according to ShowingTime.
Its Showing Index decreased 2.3% in May compared to a year earlier but there were wide differences from region to region.
The Northeast was the only major region to post a rise in showing traffic with an increase of 1.4% while the largest decline was seen in the West where activity was down 10.6%.
The South and Midwest saw declines of 4.1% and 3.4% 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 Northeast saw an uptick in showing activity according to the May ShowingTime #ShowingIndex. How did your region do? #Showings #RealEstate https://t.co/0QD2DapuxD
— ShowingTime (@ShowingTime) June 24, 2019
