Showings Down 16% Y/Y in March
March 2023 U.S. showings were down 16% year-over-year with 708,861 showings, according to data from SentriLock, LLC., a lockbox company. The pace of showing activity increased compared to last month, February 2023.
SentriLock Cards Increased 6% Y/Y
Total U.S. SentriLock cards rose 6% year-over-year to 223,708. SentriLock cards, comprised of SentriKey® and SentriCard®, allow REALTORS® to access the Sentrilock® lockbox and are an indicator of the number of REALTORS® who conduct the showing.
Showings Per Card Decreased by -21% 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 by -21% year-over-year in March.
All Four Regions Saw Y/Y Showings Decrease
All four regions saw a decrease in showings on a year-over-year basis in March: the Northeast region (-25%), Midwest (-19%), West (-18%), and the South (-11%).
Y/Y SentriLock Cards Increased In Two of the Four Regions
Cards on a y/y basis were up in the South (14%), followed by the Midwest (6). Cards were down in the West (-1%) followed by the Midwest which was down (-10%).
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 March. The Midwest had the largest dip of (-23%), followed by the South with a decline of (-22%). The Northeast and the West both fell (-17%) in March.