Fla. Home Showings Pick Up After Bottoming Out on April 7
ORLANDO, Fla. – According to data from ShowingTime, a home tour scheduler, the number of Florida home showings by day was similar to 2019 showings until the end of February. After that, showings dropped off slightly but remained in positive territory until Saturday, March 14, when the first indication of buyer interest seemed to wane and showings dipped into negative territory (-1.9%).
From that point on, the number of Florida home showings continued to drop until they hit bottom on Tuesday, April 7, when the number of home showings was down 64.3% compared to that January baseline.
However, the tide turned after April 7, and the drop in Florida home showings continued to ease, rising about 33% in the past two weeks. To determine drop-off, ShowingTime compared daily data to the first week of January 2020.
Consumers may have spent the last weeks of March preparing for social distancing, but once the pandemic reached a sort of balance, they may have had more time to explore home-listing websites and grow comfortable with virtual tours.
On Tuesday, April 14, the number of Florida home showings was down 58.5%; by April 21, it was down only 43.2%. ShowingTime says most of the newly scheduled tours were virtual.
The biggest increase nationally is for homes in the $300,000 to $500,000 range, and for ones over $800,000, according ShowingTime. The boost in showings also appears to be everywhere, including in some of the hardest hit COVID-19 markets, such as New York City.
“We’re seeing innovation coming out of pain, as agents have quickly embraced virtual showings to keep their business going,” says Michael Lane, ShowingTime president. “More and more virtual showings are scheduled every day through our systems, signaling that many markets are responding to this innovation positively.”
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