Fewer Showings Per Listing

Less home showings in 2022
Home showings are down significantly compared to a year ago.

With The Federal Reserve aggressively raising interest rates to fight record-high inflation, we have certainly seen a significant slowdown in the real estate market. Perhaps one of the best indicators of this slowdown is the number of home showings per listing in the current market. According the showing management site ShowingTime, the number of home showings per listing has dropped significantly year-over-year through the month of May 2022. We break down some of the findings by region below. To access the full report, click here.

Showing activity by region

At the national level, showing activity decreased year-over-year through May 2022 by 18.2%. As for regional differences, they were as follows:

  • West: 45.3% reduction in showing activity
  • South: 22.2% reduction in showing activity
  • Midwest: 15.1% reduction in showing activity
  • Northeast: 13.3% reduction in showing activity

Summary

ShowingTime is a popular and commonly used scheduling service utilized by real estate agents across the country. Therefore, these data are a good indicator of what is actually happening in the current market. It is important to note that although the number of home showings is dropping dramatically as compared to the same time last year, we were also seeing a record level of home showing activity in 2021. In addition, the recent surge in mortgage interest rates also makes this decrease in home showings not surprising. For information on this, check out our previous article titled Higher Mortgage Rates Leading To Less Buyers

Whether you are a home buyer or seller, working with a local and knowledgeable real estate agent is critical to your success. With a team of friendly & knowledgeable agents, Live South Florida Realty, Inc. is your best choice for South Florida real estate! To gain a competitive advantage in the South Florida real estate market, be sure to download the Florida Home Search App for your mobile device today!

By natasha moore

REALTOR® with Live South Florida Realty, Inc.

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