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ShowingTime's Data Finds Home Showings Continue at a Torrid Pace, Jumping Nationwide for Fourth Consecutive Month

CHICAGO, Sept. 30, 2020 /PRNewswire/ --A ShowingTime, the residential real estate industry's leading showing management and market stats technology provider found summer housing market ended much as it began, as buyers again turned out in droves in August, according to data from the ShowingTime Showing IndexA®. The 61.9 percent year-over-year increase in nationwide showing activity is the largest recorded during the current four-month surge in demand.Coupled with a lack of inventory and growing buyer demand, there was a marked increase in the average number of showings per listing. The sustained surge has reached historic heights, aided by continued adoption of virtual showings. The Northeast Region's 73.7 percent increase was the largest of the four regions tracked by the ShowingTime Showing IndexA®, while August showing traffic increased 61.9 percent year over year nationwide, the largest jump during the current four-month surge in activity."The trends we've been observing the past few months have continued, with buyers competing for fewer listings," said ShowingTime Chief Analytics Officer Daniil Cherkasskiy. "Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September. Only in late September did we begin seeing signs of a seasonal decline." The Northeast Region saw the largest gain for the third consecutive month, with a 73.7 percent increase in traffic. The West's 55.1 percent year-over-year increase came next, followed by the Midwest's 54.9 percent increase and the South's 51.9 percent climb.
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