You can tell a lot about how competitive a housing market is by looking at how many showings the typical listing receives. If listings are seeing a lot of traffic from buyers, it's a pretty good indication that homes will sell quickly and bidding wars may be more likely. So what do things look like today?
Well, according to one new analysis of showings per listing, the number of home showings increased in March and remains significantly higher than its pre-pandemic norm. In fact, showings are 43 percent higher than where they were in 2019. But while showings are higher than they were before the pandemic, they have slowed from the record-breaking heights of 2021 and 2022.
That means markets will be slower than last spring, but still fairly competitive depending on where you're looking. Showings in the Midwest and Northeast both saw double-digit increases in March, while the South was up 1.4 percent and the West saw a 2.7 percent decrease.