Counter to seasonal trends, demand for home showings posted a strong increase in November amid steady consumer confidence and low unemployment, according to the ShowingTime Showing Index, which measures buyer demand based on showing appointments. The index showed an 8 percent year-over-year rise in November.
“Although the residential real estate industry has entered its regular seasonal slowdown period, demand continues to be strong relative to the supply of homes,” says Daniil Cherkasskiy, ShowingTime chief analytics officer. “This trend should continue across the board throughout the holiday season with more buyers looking at listed properties compared to last year.”
ShowingTime’s index tracks demand for active listings throughout the country by tracking ShowingTime products, which facilitate more than 4 million showings each month. The index tracks the average number of appointments received on an active listing during the month.
The Midwest saw the highest year-over-year increase in showings at 9 percent, followed by the Northeast (8.6 percent increase). The South posted a 7.3 percent increase and the West saw a 5.5 percent uptick in showing in November compared to a year ago.