A Spike in Listing Traffic in the Housing Market
The economy is questionable during current times but the traffic from home buyers is on the rise. According to Zillow, more buyers are actively looking for homes online than they were this time a year ago.
People all over the country are looking online for a home. Currently, the national total is up 13% year over year for the week ending April 13, 2020. Some metro areas have more viewer traffic than others. Thirty of the thirty-five largest metro areas have had high year-over-year web traffic to for-sale listings during the second week of April 2020.
Zillow.com explains is the methodology as follows, “All page view events of for-sale homes on Zillow.com and the Zillow app are tabulated by day and the listing’s ZIP code, and then aggregated today and MSA. Figures are presented as rolling 7-day trailing averages to smooth out daily noise. Pageviews exclude real estate agents and other professional users on Zillow. Year-over-year comparisons are done after offsetting 2019 data by 2 days, in order to compare the same days of the week, e.g. we compare Sunday, March 29, 2020, with Sunday, March 31, 2019. ”
This is good news for the housing market as we continue to be under shelter-in-place orders. Data shows that the highest levels are seen in Los Angeles, Houston, Dallas and Atlanta. The lowest levels currently seen are in Minneapolis, New York, Boston and San Francisco.
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