Year-over-year gains were recorded in all four regions as buyer demand for new homes was particularly strong in September, which may be due in part to builders offering rate buydowns and other incentives. The Northeast again led the way with a 9.7% increase compared to last year, followed by the Midwest at 9.1%. The West came in at 3.3%, reversing its decline last month, while the South posted a gain of 0.7%. Each region recorded a decline in monthly showing traffic compared to August.
All major metros saw showing activity decline from August to September, though once again, the year-over-year results varied significantly by metro. For example, buyer traffic was up 33% in Las Vegas and 13% in San Francisco compared to last September, but declined 30% in Memphis and 24% in Houston.
“Buyers and sellers remain active in every economic environment, including when mortgage rates are high,” said Mike Lane, vice president of ShowingTime+. “Buyers determined to find a home they love will continue visiting homes with their agents, and as we mentioned previously, some sellers are reducing prices, which presents an opportunity for those buyers.”
Listing agents seeing a slowdown in buyer traffic could benefit from viewing reports that provide comparisons to similar listings, including days on market, showing activity and pricing, which can help them set realistic expectations for their sellers. Reports included with the Appointment Center by ShowingTime+ provide users with access to such data. learn more.
| Metropolitan Area | Ratio of Showings to Listings[2] | Year-over-Year Change[3] | Month-over-Month Change[4] |
| Atlanta, GA | 5.43 | -4% | -9% |
| Austin, TX | 3.69 | -10% | -6% |
| Boston, MA | 7.01 | -1% | -10% |
| Chicago, IL | 6.92 | 7% | -8% |
| Cincinnati, OH | 6.44 | -7% | -8% |
| Columbus, OH | 7.16 | -2% | -4% |
| Dallas–Fort Worth, TX | 5.85 | -18% | -8% |
| Denver, CO | 6.58 | -4% | -9% |
| Houston, TX | 4.64 | -24% | -7% |
| Las Vegas, NV | 3.81 | 33% | -9% |
| Los Angeles, CA | 4.62 | 9% | -2% |
| Memphis, TN | 4.32 | -30% | -8% |
| Miami–Fort Lauderdale, FL | 5.96 | -15% | -11% |
| Minneapolis–St. Paul, MN | 5.93 | -4% | -10% |
| Nashville, TN | 5.48 | -4% | -3% |
| New York, NY | 7.78 | 2% | -5% |
| Philadelphia, PA | 7.10 | -6% | -6% |
| Phoenix, AZ | 5.29 | 10% | -10% |
| Portland, OR | 5.55 | -13% | -7% |
| Raleigh, NC | 6.10 | -4% | -7% |
| Riverside, CA | 5.18 | 18% | -6% |
| St. Louis, MO | 6.71 | -6% | -10% |
| Sacramento, CA | 3.90 | -12% | -10% |
| San Diego, CA | 5.60 | 2% | -10% |
| San Francisco, CA | 3.64 | 13% | -9% |
| Seattle, WA | 7.78 | 3% | -6% |
| Virginia Beach, VA | 6.79 | -12% | -16% |
| Washington, DC | 7.82 | -1% | -6% |
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. September 2023.
[3] September 2022–September 2023.
[4] August–September 2023.
