June 5, 2023 – This April posted the smallest yearly decline in showing traffic since the housing market began to cool in April 2022, according to the latest data from the ShowingTime Showing Index®.[1] Though showing traffic is still declining, it is at a slower rate than it has been throughout the market cooldown following the pandemic frenzy.
Buyer foot traffic remained elevated above pre-pandemic levels as shoppers navigated increased demand and the continued scarcity of new listings hitting the market. The overall index was 44% and 53% higher in April than in the same period in 2018 and 2019, respectively.
Each region and the U.S. overall remained relatively flat or increased from last month. The West had the largest increase in monthly showing traffic, jumping 8.6% from March; this is at a time in the typical yearly cycle when showing traffic begins to decline as the spring home shopping season wraps up and summer begins. The Midwest was up 2% from March, and the South and Northeast each saw about a 1% monthly decline. The U.S. overall was down just 0.2% in April from the prior month.
At the city level, showing traffic declined from last month in nearly all markets. Notably, the major California cities of San Diego, Riverside, Los Angeles and Sacramento were among the only markets analyzed to see positive monthly changes in buyer foot traffic in April, which helps account for the Western region’s relatively large monthly increase. Like the rest of the country, these markets are still seeing fewer showings than at the same time last year.
“We expect to see showings begin to slow down for the year in April as the spring shopping season comes to a close,” said Mike Lane, vice president of sales for ShowingTime+. “We are watching closely to see if the regular seasonal showing patterns continue and what they could mean for summer and fall home sales.”
An unpredictable housing market means real estate agents need tools they can count on to navigate changes and grow their business. Appointment Center by ShowingTime+ gives agents tools to simplify showing and offer management, along with access to detailed market reports to guide productive conversations with clients — all of which help them save time so they can reinvest in growing their business and provide exceptional client service.
| Metropolitan Area | Ratio of Showings to Listings[2] | Year-Over-Year Change[3] | Month-Over-Month Change[4] |
| Atlanta, GA | 7.13 | -34% | -7% |
| Austin, TX | 4.74 | -45% | -11% |
| Boston, MA | 8.92 | -18% | -16% |
| Chicago, IL | 9.57 | -14% | -7% |
| Cincinnati, OH | 9.57 | -14% | -7% |
| Columbus, OH | 10.34 | -24% | -9% |
| Dallas–Fort Worth, TX | 7.88 | -45% | -8% |
| Denver, CO | 9.22 | -41% | -11% |
| Houston, TX | 7.19 | -27% | -9% |
| Las Vegas, NV | 4.46 | -13% | 1% |
| Los Angeles, CA | 5.85 | -9% | 5% |
| Memphis, TN | 5.96 | -53% | -9% |
| Miami–Fort Lauderdale, FL | 7.74 | -36% | -8% |
| Minneapolis–St. Paul, MN | 8.64 | -24% | -11% |
| Nashville, TN | 7.09 | -45% | -7% |
| New York, NY | 9.32 | -15% | -10% |
| Philadelphia, PA | 8.91 | -25% | -9% |
| Phoenix, AZ | 7.03 | -24% | -4% |
| Portland, OR | 7.89 | -34% | -7% |
| Raleigh, NC | 7.19 | -30% | -11% |
| Riverside, CA | 6.86 | -7% | 6% |
| St. Louis, MO | 9.11 | -20% | -6% |
| Sacramento, CA | 6.52 | -3% | 2% |
| San Diego, CA | 7.65 | -3% | 7% |
| San Francisco, CA | 4.76 | 20% | -3% |
| Seattle, WA | 10.30 | -28% | -8% |
| Virginia Beach, VA | 10.86 | -14% | -2% |
| Washington, DC | 10.41 | -17% | -10% |
To view the full report, click here.
[1] The ShowingTime Showing Index is compiled using data from more than 6 million property showings scheduled across the country each month for listings that use ShowingTime products and services. It tracks the average number of appointments received for active listings during the month, then reports the numbers by region and nationally.
[2] Calculated using the average number of buyer showings per active listing on a monthly basis. April 2023
[3] April 2022–April 2023
[4] March 2023–April 2023
