South Region rebounds from Hurricane Irma; overall market continues to see increased demand
Chicago, IL – Nov. 21, 2017 (PRNewswire) Home showings on the national level posted a 8.9 percent year-over-year increase in October, according to the November 2017 ShowingTime Showing Index.
The South Region had the highest year-over-year increase in showings, recording an 11.6 percent rise in showings compared to October 2016, negating concerns that buyers would be hesitant to engage in the market following Hurricane Irma’s impact in Florida and South Carolina. The Northeast Region increased 10.2 percent, while the Midwest Region posted an 8.1 percent increase. The West Region saw a 5.5 percent increase.
“As usual, showing traffic is entering the regular seasonal slowdown,” ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. “But despite the time of year and the concerns raised after last month’s demand decreased by 10 to 30 percent in some southern markets following Hurricane Irma, buyers in the South Region have quickly returned to the market as buyer interest has rebounded to pre-hurricane levels.”
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 facilitates more than 4 million showings each month. It tracks the average number of appointments received on an active listing during the month. The Showing Index, released the third week of each month, will eventually be released on a weekly basis.
To view the full report, visit www.showingtime.com/index.
ShowingTime is the leading market stats and showing management technology provider to the residential real estate industry. Its MarketStats division provides interactive tools and easy-to-read market reports for MLSs, associations, brokers, agents and other real estate companies. Its showing products and services take the inefficiencies out of the appointment scheduling process for real estate professionals, buyers and sellers, resulting in more showings, more feedback and quicker sales. ShowingTime products are used by 180-plus MLSs and associations representing more than 900,000 real estate professionals across the U.S. and Canada. Visit www.showingtime.com.
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