Hurricane Irma impacts South Region; Northeast leads U.S. in activity
CHICAGO, IL, October 23, 2017 /24-7PressRelease/ — Home showings on the national level increased 7.3 percent year over year in September, according to the September 2017 ShowingTime Showing IndexTM.
The Northeast Region had the highest year-over-year increase in showings at 11.5 percent, while the Midwest Region posted an 8.3 percent increase. The West Region saw a 7 percent increase. The South Region, meanwhile, saw a modest 0.5 percent increase in showings compared to September 2016 due to Hurricane Irma.
“Hurricane Irma had a significant impact on showing activity in coastal areas from Florida to South Carolina, with some markets seeing a 10- to 30-percent decrease compared to last September,” ShowingTime Chief Analytics Officer Daniil Cherkasskiy said. “Other areas in the South not affected by Irma actually saw a substantial year-over-year increase, which explains why the region as a whole experienced only a slight increase.
“It will be interesting to monitor the South’s showing activity in the coming months to see if demand quickly bounces back, or remains somewhat subdued until the first quarter of 2018.”
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. It tracks the average number of appointments received on an active listing during the month. ShowingTime facilitates more than 4 million showings each month.
The Showing Index, released the third week of each month, will eventually be released on a weekly basis. Local MLS indices are also now available for select markets, and are distributed to MLS and association leadership to provide them with another resource to share with members and to communicate to local media.
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. ShowingTime products are used by 180-plus MLSs and associations representing more than 900,000 real estate professionals across the United States and Canada.
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