CHICAGO, Aug. 23, 2017 /PRNewswire/ -- Showings on the national level increased 7.8 percent in July from the same time period last year, according to the July 2017 ShowingTime Showing IndexTM.
The Northeast Region had the highest year-over-year increase in showings at 13.2 percent, while the West Region experienced a slight decline of 0.8 percent compared to last July. The Midwest Region was up 6.7 percent, while the South had a 4.3 percent increase in showings over July 2016.
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 lifecycle of the listing. ShowingTime facilitates more than 4 million showings each month with its technology.
"Property showing activity is a highly reliable leading indicator of current and future demand trends," said Michael Lane, President of ShowingTime. "The data from showings can be used to forecast market trends, facilitate better decision making for buyers and sellers and assist real estate professionals in identifying and capitalizing on hot spots."
ShowingTime is the leading showing management and market stats technology provider to the residential real estate industry, with more than 1.2 million active listings subscribed to its services.
The Showing Index, released the third week of each month, will eventually be released on a weekly basis. Work is also underway to release indices tailored to local markets.
"MLSs and REALTOR Associations have a huge appetite for data and analytics," Lane said. "Our clients have asked us to research, design and implement analytical tools for their business-to-business services with real estate agents and brokers. This is an example of that work on behalf of our clients."
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 products are used by more than 180 MLSs and associations representing more than 900,000 real estate professionals across the United States and Canada.
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