Showing activity is a great leading indicator of real estate market trends. ShowingTime is a software as a service product that facilitates scheduling if residential real estate showings. They have excellent data products that can provide insight into market activity. The chart above shows the 7-day moving average of showings in the State of Ohio normalized to the average for the first week in January. The orange line for 2020 illustrates the steep decline in showing activity in mid-March and the recovery in May. Here are some of the key insights:
Last year, showing activity peaked in April, precisely when COVID-19 shutdown severely depressed activity in 2020.
In 2020, the peak so far is in June and July.
Dips in showing activity are evident around the Memorial Day and Independence Day holidays.
This high level of activity in June and July will likely translate to a large number of closed sales in August, probably an increase over sales in August 2019.
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Here is a 3 bedroom, 3 bath mid-century modern home typical of the Kenwood Hills subdivision of Madeira. This one is light and airy inside with many windows. It has hardwood floors, a gas fireplace, and a beautiful outdoor area.
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