Tag Archives: New Home Sales

 

We dug into our historical records to look at how long home buyers have searched for the homes they purchased over the years and the number of homes they viewed during that process. Our main finding was that despite major changes in the housing market, ups and downs in the economy, and the advent of the digital age, home buyers searched for roughly the same amount of time and looked at the same number of houses in more than three decades. The differences were only a few weeks, not years, and a couple of homes, not hours spent on the search. Let’s look at the minor fluctuations that have occurred.

The Profile of Home Buyers and Sellers report was first launched in 1981. In the 1980’s—1990’s, it was conducted only every two years. By 2004, the survey was conducted every year accompanied by its annual release, marking the report as one of the most popular and insightful research studies on the home buying and selling market from the perspective of consumers.

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Decade Trends

  • For most of the 1990’s, home buyers searched for a median of two months; they looked at 12 homes in the early ‘90’s and 10 homes by the end of the decade.
  • For a majority of the 2000’s, home buyers still searched only two months; by 2009—2010 they were looking for nearly three months. During that decade, home buyers looked at a median of 10 homes for most years, with a slight dip to nine homes during 2004—2006.
  • During the 2010’s, home buyers look for homes for 12 weeks until 2014 and 2015 when it bumped back down to only 10 weeks. At the beginning of the decade, buyers looked at a median of 12 homes. In the last four years, they looked at only 10 homes.
  • 2004—2006 home buyers searched for eight weeks and looked at nine homes, the shortest period of time according to the report.
  • 2009—2011 buyers searched for 12 weeks and looked at 12 homes, the longest search time according to the report.

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If your thinking of searching for your perfect home, give Greg Peterson a call at (970) 331-1333.

This blog post was written by Managing Director of Housing Research, Danielle Hale, and Data Analyst, Hua Zhong.

You probably know that home listings go up most often on Thursdays and Fridays. Here is the data to back up your intuition:

  • As we start the New Year, this is a good time to take a look and recap the year behind us to see what insights 2014 holds for 2015. While December 2015 is still preliminary, we can get a good sense of the year by looking at the data we currently have for the past 12 months[1]. In our first posts, we looked at popular and least common closing dates. Here, we’ll take a look at listings.
  • Below, we see the most popular listing days of 2015. Note the strong preponderance of spring dates and obvious lack of weekends.
  • The biggest months for new listings are April, May, and June, followed by March and July. These months alone accounted for roughly half of all new listings in this analysis.
  • While not devoid of new listings, the weekends are obviously not popular days to list. Among weekdays, Fridays and Thursdays are the most common days for new listings to go up, with Mondays and Wednesdays trailing a bit and Tuesdays not too far behind. Tuesdays and weekends are the only days of the week absent in the top 25 days for listings.
  • While home closings exhibit a strong tendency to get done at the end of the month, listings are much steadier throughout the course of the month with a slight tendency to be posted earlier rather than later.
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[1] This analysis considers data from January 1, 2015 to December 31, 2015.

Don’t miss out on this prime listing times!! Get your home listed with Greg Peterson early! Call me at 970-331-1333 to get your home listed.