Homes.com Quarterly “State of the Housing Market” Report
Homes.com is keeping a pulse on the housing market and this quarter we’ve noticed some interesting trends. With more than 71 million people using Homes.com to search for homes during the second quarter, a three percent increase from first quarter, we see that along with rising new-home sales, more Americans were searching homes for sale during the April, May and June months.
It looks like Orlando is a hot spot with searches, once again making the top of the list for most searched city. Along with Orlando southern cities are dominating the top ten list, with most cities considered to be family-friendly with unique attractions like Disney World, Sea World and major sporting venues. Maybe summer vacationing has buyers wanting to relocate to warmer climates?
You may be asking yourself, “Why is this important to ME?” Well, for sellers and owners this is excellent news. Those currently trying to sell their homes in the south should know that home searches in their area are increasing – bring on those offers! With more people looking at homes to buy online it’s a good indicator that they’re planning to purchase a home in the near future; meaning more exposure to your home which will increase the odds of it selling.
For owners, any improvement in the market is a good thing. As more homes are sold, the demand for the ones available will increase. That typically results in home prices going up. Homes being sold at higher prices over time will increase your home value. This is something I’m sure you care very much about!
The top ten cities are determined by the number of unique searches on the site and include:
- Orlando – 352,907
- Houston – 332,789
- Atlanta – 285,630
- Las Vegas – 280,394
- Charlotte – 246,730
- Miami – 213,882
- Baltimore – 211,184
- Dallas – 185,133
- Tampa – 176,986
- San Antonio – 174,041
Two new cities made the list in Q2 – Dallas and Baltimore.
According to our report, homebuyers flock to Orlando, with over 350,000 searches, and we wonder if it’s because it’s commonly known as a tourist destination. With its abundance of family-friendly activities and planned neighborhoods—along with lower housing market rates— it makes for a great place to live.
Only 20,000 searches behind Orlando is Houston. The fourth most populous city in the country is known for the largest rodeo in the world. Talk about a fun family outing! It’s also home to the second largest number of Fortune 500 company headquarters, ranking only behind New York City, which is fantastic for employment opportunities.
With more than 100 cities and neighborhoods searched throughout the country, this report is another indicator the housing market is continuing its rise in 2012.
For additional real estate news, be sure to check out the Real Estate Market section.