The National Association of Realtors provides a monthly home showings report based off showing information taken from Sentrilock lockboxes, which are used by the majority of real estate agents in our local area. SentriLock provides NAR with data on the number of properties shown by a REALTOR® and the lockboxes are used in roughly a third of home showings across the nation. Since foot traffic has a strong correlation with future contracts and home sales, it can be viewed as a peek ahead at sales trends two to three months into the future.
May’s report showed that, nationally, Sentrilock home showings were down 24% year-over- year. Showings declined in every region Northeast region (-55%), Midwest (-29%) West (-27%) and South (-14). Maryland belongs to the South region. Showings in the Southern Region decreased in May 2022 by 14% from the same period a year ago. The South totaled 293,752 showings in May. South Region Sentrilock cards increased to 74,510. Showings per card decreased to 3.9, but remain higher than the national level.
The number of cards, a measure of the number of REALTORS® showing homes, decreased 2% on a year-over- year basis. And, showings per card, a measure of the intensity of demand and buyer competition, decreased 23% year- over-year. Card definition is the number of accesses to SentriLock lockboxes a REALTOR® inserts their SentriCard® into or uses their SentriKey® to gain access to properties. And, Showings Per Card Definition is the average showings per card.
Lauren Bunting is a licensed Associate Broker with Keller Williams Realty of Delmarva in Ocean City, MD.
Lauren Bunting is an Associate Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.