Demand from home buyers has remained steady this summer, but is showing signs of an expected seasonal cooldown heading into early fall. Last summer’s market rebalancing also included a dip in showings from the highs of 2021 and early 2022, but July’s data tracked closely to the all-time highs posted during the pandemic for the same period: This year’s buyer foot traffic was down just 7.3% and 2.4% from July 2020 and July 2021, respectively.
Regionally, the Midwest, at 20.7%, and the Northeast, at 21.1%, stood out with the largest year-over-year gains in showing traffic, with the South coming in at 8%, and the West trailing at 5.5%. All regions saw declines in monthly showing traffic compared to June, in line with the national seasonal trend.
Most major metros also experienced declines in showing activity in July, while a few remained flat. The exception was Riverside, California, which saw a slight increase in monthly showing activity. Similar to last month’s stats, the yearly data varies widely depending on the market. Showing traffic in Las Vegas increased 43% from the same time last year, for example, while Memphis posted a 35% decrease.
“As ever, real estate is a local story, and that shows in July’s Showing Index,” said Mike Lane, vice president of ShowingTime+. “Shoppers looking to buy this fall can expect a bit more time and bargaining power, and should look to their agent to understand the full dynamics in their local market.”
Staying organized to get ahead of a cooling market is key. Agents looking to streamline their work and elevate their business can check out dotloop’s new Tasks feature to help set, sort and organize important transaction steps and deadlines, from listing to closing. Learn more.
| Metropolitan Area | Ratio of Showings to Listings[2] | Year-over-Year Change[3] | Month-over-Month Change[4] |
| Atlanta, GA | 6.46 | -1% | -5% |
| Austin, TX | 4.26 | -1% | -4% |
| Boston, MA | 8.14 | 9% | -7% |
| Chicago, IL | 8.43 | 17% | -6% |
| Cincinnati, OH | 7.98 | 5% | -9% |
| Columbus, OH | 8.19 | 4% | -9% |
| Dallas–Fort Worth, TX | 6.92 | -17% | -6% |
| Denver, CO | 7.38 | 0% | -7% |
| Houston, TX | 5.53 | -20% | -9% |
| Las Vegas, NV | 4.33 | 43% | -5% |
| Los Angeles, CA | 5.02 | 17% | -2% |
| Memphis, TN | 4.79 | -35% | -10% |
| Miami–Fort Lauderdale, FL | 7.10 | -10% | -4% |
| Minneapolis–St. Paul, MN | 7.09 | 2% | -10% |
| Nashville, TN | 6.16 | -7% | -6% |
| New York, NY | 8.74 | 11% | -5% |
| Philadelphia, PA | 7.98 | -3% | -5% |
| Phoenix, AZ | 6.42 | 24% | -7% |
| Portland, OR | 6.31 | -2% | -7% |
| Raleigh, NC | 6.81 | 0% | -4% |
| Riverside, CA | 6.09 | 24% | 1% |
| St. Louis, MO | 8.07 | 5% | -9% |
| Sacramento, CA | 5.12 | 16% | -7% |
| San Diego, CA | 6.17 | 15% | -5% |
| San Francisco, CA | 4.18 | 42% | -1% |
| Seattle, WA | 8.68 | 14% | -7% |
| Virginia Beach, VA | 8.44 | -3% | -14% |
| Washington, DC | 9.15 | 10% | -7% |
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. July 2023.
[3] July 2022–July 2023.
[4] June–July 2023.
