MAY 4, 2020 — According to ShowingTime's Chief Analytics Officer, Daniil Cherkasskiy, national showing traffic for homes listed for sale remains suppressed in many markets and is still virtually at zero in Michigan and Pennsylvania. The national 7-day moving average is projected to exceed the volume of that in the first week of January, which ShowingTime has been using as the benchmark for showing traffic since the start of the crisis. The rebound has continued so far without any signs of slowdown.
Below are charts comparing the magnitude of declines in Nationwide showing traffic from the peak volume periods of early March 2020. A month ago, the median drop in showing traffic at the state level was -51 percent; as of today, it’s at -20 percent. In fact, a growing number of states are actually poised to reach new highs for the year in the coming days.
In Maryland, showings appear to be on an upwards trend after reaching the low point on Sunday, April 5, 2020, -50.2 percent; as of today, it's at +1.5 percent. Forecasts predict the pent up buyer market will continue to see Maryland showings trend upwards for intersection and likely surpass the 2019 showing traffic. This may be due to continued buyer interest, lower interest rates and still tight inventory.
