Home showing traffic finished the year at a record high, according to ShowingTime’s Showing Index report released Monday. In 2021, showing traffic increased 11.5% compared to the year prior and in December alone, the nationwide average ratio of showings to listings was up 16% year over year to 5.88.
ShowingTime’s Showing Index is compiled using data from the more than six million property showings scheduled each month across the country on the platform.
“2021 was a banner year for residential real estate as buyer demand was up nationally for most of the year, pushing the ratio of showings per listing to historic highs,” Michael Lane, the general manager and VP of ShowingTime, said in a statement.
With housing inventory across the country being so scarce and demand remaining high, it is no surprise that there was increased activity on the listings that were available. While inventory issues began to improve in some markets toward the end of 2021, in the busiest markets, the ratio of showings per listing remained high.
Seattle and Denver led all markets in showings per listing in December with averages of 15 and 14, respectively. In Orlando, listings saw an average of almost 12 showings, while in Dallas, Manchester, NH, and Burlington, VT, each averaged 11 showing per listing.
Over half (11) of the 20 busiest markets for showings recorded double-digit percentage increases over a year ago.
By region, the Northeast saw the greatest year-over-year increase in home buyer traffic in December with a 14.2% jump, followed by the South with an 11.9% increase, the Midwest with an 8.6% increase and the West with a 7.1% increase.
While active listings are getting more showings than ever before, according to a report from the National Association of Realtors, homebuyers who successfully purchased a home in 2021, viewed a median of eight properties, a record low. The NAR states that this is most likely due to a combination of record low inventory available for viewing and homebuyer’s increased use to technology to vet homes before choosing to look at them in person.