Showings Down 23% Y/Y in October
October 2022 U.S. showings were down 23% year-over-year, with 660,375 showings, according to data from SentriLock, LLC., a lockbox company. The pace of showing activity declined compared to last month, September 2022.
SentriLock Cards Inclined 1% Y/Y
Total U.S. SentriLock cards rose 1% year-over-year to 224,203. 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 24% 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 24% year-over-year in October.
All four Regions Saw Y/Y Showings Decrease
All four regions saw a decrease in showings on a year-over-year basis in September: the Northeast region (-58%), Midwest (-36%), West (-22%), 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 (21%), followed by the West (3%). Cards were down in the Northeast (-67%), followed by the Midwest, which was down (-10%). Two of the four regions showed declines in cards from the prior month. The other two regions, Northeast and South, showed no change.
Showings Per Card Decreased in Three of the Four Regions On A Y/Y Basis
All regions saw a year-over-year decrease in showings per card, except the Northeast in October. While all regions saw a decline on a year-over-year basis, of the four regions, only the Northeast (28%) saw positive showings but was down from the prior month (47%).