Michael Lane, President of ShowingTime, announced today that the company is launching a newly developed residential real estate market index to provide real estate professionals, REALTOR® Associations and Multiple Listing Services with actionable insights to better serve buyers and sellers.
The ShowingTime Showing Index™ was developed in part using data from the three million property showings scheduled across the country each month using ShowingTime products and services. The company is the industry’s leading showing management, analytics and market statistics provider.
“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. As a result, our recent acquisitions of leading market stats companies 10K Research and Real Estate Business Intelligence (RBI) are key elements in our strategy to offer a great range of data analytics products. The ShowingTime Showing Index™ represents a major step in this strategic direction.”
ShowingTime anticipates that the Index, derived in part from the average number of appointments an active listing receives in a given month, will prove to be an accurate gauge of real estate demand. It is the first index being introduced by its MarketStats division, and will be one of several economic indicators to be compiled based on showing activity.