Friday Real Estate Update – In a Flat Market

Today I have local real estate showing statistics to share with you. Below is a chart which displays current trends in scheduled showings. A showing is an appointment for a potential buyer to look at a home that is for sale. The number of showings directly relates to how many homes are being sold, because the more showings there are, the more buyers there are and the more homes that are sold.

You will see that showings dropped sharply with the end of April and have been relatively flat since the beginning of May (read graph right to left). It is no coincidence that showings dropped off on that date; the decrease in showings is attributed to the end of the federal first-time home buyer tax credit which ended in April. Activity has dropped by about half since the tax credit ended, as have recorded sales. I will share May sales statistics with you soon – the picture is very similar to what you see here.