Showing Activity in the Twin Cities is Up Over Last Year
In the Twin Cities all Realtors schedule and track showings using the same platform, ShowingTime. Through this vendor we can obtain meaningful insight into how the pandemic is affecting showing activity.
In mid-March, as COVID-19 started picking up steam, showing activity started to slow. At that time, the number of daily showings in our market was up 54.4% over the last year in the same week. For about three weeks, showing activity slowed until April 2nd, when daily showings were down 11.7% from the same week in 2019.
Since April 3rd, 2020, activity has trended back upward! As of April 23rd, the number of showings taking place daily is 26.9% higher than the same week in 2019.
Our industry, has embraced social distancing and other CDC recommended practices while on showings. We don't have data specific to how many of these showings were "virtual," where the agent does a live video stream to the buyer from the home, but we do know that trend has gained a lot of traction locally.
Showing activity is generally a great indication of future sales, so we anticipate home sales (and values) will continue to grow.