Slowing Buyer Interest

Fewer homebuyers went to home showings this summer than they did in the summer of 2017. July 2018 had 0.3 percent annual growth, while June's share was even year-over-year.

By region, showings declined in both the West and in the American Northeast. In Western states, showing activity dropped over the course of six consecutive months, and fell 6.5 percent annually in July. In the Northeast, showings decreased by 2 percent that month. The Washington Post reports that the South is the "outlier," as buyer traffic grew 4.6 percent in July 2018 over July 2017, and has had YoY traffic growth for 10 consecutive months. The Midwest had a 0.6 percent annual increase in showing activity for July.

Years of rising prices and a limited number of homes for sale is taking its toll on the real estate market across the United States, particularly in the West and Northeast regions, according to the Showing Time Showing Index. The Showing Index tracks the average number of appointments received on active house listings every month and combines that data with its MarketStats division to track buyer demand.

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