Traffic of home buyers declined in July, according to ShowTime »RealtyBizNews: Real Estate News

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ShowTime, a leading provider of management technology and market statistics for residential real estate, found that activity in July was lower than in previous months, but was still at historic levels, with 110 markets averaging over the first five days. more than 20 impressions per listing. according to data from the time display index®,

“Overall, there are clear signs of declining demand,” said ShowTime President Michael Lane. “However, the flow of buyers remains at a historically high level compared to pre-pandemic levels.” Of the top 30 markets ShowTime monitors, only Lakeland, Florida saw an increase in line items per month compared to the previous month. The slowdown in growth is in line with the usual seasonality of residential property.

According to the Display Index, 41 markets continued to average double digits per listing throughout the month, led by Seattle, Denver, Memphis and Orlando. This is less than in June, when 64 markets averaged double-digit numbers per listing. In May, 113 markets recorded double-digit listings, up from 146 in April.

A modest 7.7 percent year-on-year jump in consumer demand in the South put the region at the top in the country in July, followed by modest 0.4 percent growth in the West. Traffic was down 5.3 percent in the United States overall, 15.2 percent in the Northeast, and 0.2 percent in the Midwest.

“Despite the fact that the demand for real estate is still in the historical territory, for the first time this year the ShowTime Show Index in July fell by 5.3% compared to the same period last year,” said Daniil Cherkassky, chief analyst at ShowTime. … “Average impressions per listing have been declining for four months now, and at a faster rate than the usual slowdown this part of the year. Per-listing numbers are down 33% from March 2021 levels, while July will be about 20 percent slower than March in a typical pre-pandemic year. ”

The ShowTime Show Index is compiled using data from over six million real estate exhibitions scheduled across the country each month in advertisements using ShowTime products and services. Display Index tracks the average number of appointments received in active ads over the course of a month.

About ShowTime

ShowTime is a leading provider of technologies for the management and statistics of the residential real estate market, with over 1.5 million active properties subscribed to its services. Its products

are used in 370 MLS representing 1.4 million real estate professionals in the US and Canada. Contact us on research@showingtime.com

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