Buyer Activity Continued Its Late-Season Surge Across The U.S., Led By Denver, Colorado Springs And Three Utah Cities
CHICAGO, Jan. 27, 2021 /PRNewswire/ — ShowingTime is the residential real estate industry’s lead showing management and market stats technology provider. Showing Time found that December’s usual seasonal slowdown was reversed in 2020. Requests to see homes across the country surged 63.5 percent year-over-year as buyers had more on their minds than just shopping for gifts. Search www.rehava.com for homes for sale in Flying Horse, Colorado Springs.
Showing Activity MUCH HIgher Than 2019
Of the 20 cities recording the heaviest showing traffic, all but three also had month-over-month increases. This is not what anyone expected, but 2020 was anything but normal. In December, Ogden and Provo were up 122 percent and 123 percent, respectively, compared to 2019. Denver had more than twice the average number of showings per listing, as did Colorado Springs.
While the year was a challenge for everyone, we’ve seen consumers in many markets make up for lost time shopping for homes. The industry adapted quickly, with the data suggesting the positive momentum will continue. We’re excited to help clients respond to the sustained demand. For the second consecutive month the West Region saw the most significant year-over-year increase in showing activity, with a jump of 82.1 percent.
UPWARD PRESSURE ON PRICES DUE TO DEMAND
2020 proved to be a tumultuous year, yet so far across the U.S. We continue to see increased levels of demand concentrated on a dwindling set of available listings. Year-over-year increases are at historically high levels, especially on the West Coast. Although December’s stats are more likely to be distorted by weather and other factors, the trajectory we’ve seen in 2020 points to continued upward pressure on prices in the next few months.
The ShowingTime Showing Index is compiled using data from more than six million property showings scheduled across the country each month. These are listings using ShowingTime products and services. The Showing Index tracks the average number of appointments received on active listings during the month.
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