Showings Down 20% Y/Y in December
December 2022 U.S. showings were down 20% year-over-year, with 431,717 showings, according to data from SentriLock, LLC., a lockbox company. The pace of showing activity declined compared to last month, November 2022.
SentriLock Cards Increased 2% Y/Y
Total U.S. SentriLock cards rose 1% year-over-year to 224,816. SentriLock cards, comprised of SentriKey® and SentriCard®, allow REALTORS® to access the Sentrilock® lockbox and is an indicator of the number of REALTORS® who conduct the showing.
Showings Per Card Decreased 22% Y/Y
The number of showings per card reflects the strength of buyer interest per listed property. At a national level, showings per card decreased 22% year-over-year in December.
All Four Regions Saw Y/Y Showings Decrease
All four regions saw a decrease in showings on a year-over-year basis in September: Northeast (-30%), Midwest (-33%), West (-19%), and the South (-12%).
Y/Y SentriLock Cards Increased In Three of the Four Regions
Cards on a y/y basis were up in the South (17%), followed by the Northeast (3%). Cards were up slightly in the West (1%), but the Midwest was down (-11%). On a monthly basis, two of the four regions showed declines in cards from the prior month. Only the Northeast increased, while the Midwest showed no change.
Showings Per Card Decreased In All Four Regions On A Y/Y Basis
All regions saw a year-over-year decrease in showings per card in December. While all regions saw a decline on a year-over-year basis, of the four regions, the Northeast (-32%) saw the largest decline in showings and was down from the prior month (51%). This would be the first decline since November 2021.