If you need assistance, please call 702-476-0060

Zillow Says Home Listing Views Have Surged From a Year Ago

Tuesday, April 28, 2020   /   by Ken Couture

Zillow Says Home Listing Views Have Surged From a Year Ago

Even in the markets hit hardest by the COVID-19 pandemic, people are back to digitally checking out potential new homes again.


Are they looky-loos stuck at home because of the coronavirus pandemic, or genuine buyers temporarily sidelined but still ready to make an offer on a house? Zillow (NASDAQ:Z) isn't sure, but it says page views for homes for sale surged in mid-April, rising above their levels a year ago.


Although those numbers took an understandable plunge in mid-March after the COVID-19 outbreak reached true pandemic proportions and stay-at-home orders were put in place by state and local governments across the country, they've rallied since. However, the housing market outlook remains deeply uncertain because unemployment is soaring, and mortgage applications for new home purchases have tumbled.


A virtual house tour


The online real estate data provider said that as of March 22, listing page views had tumbled by 19% country-wide, with some markets such as Philadelphia and Detroit plummeting 30% or more. While it wasn't surprising that views sank sharply in cities like New York -- the epicenter of the U.S. outbreak -- other big-city markets like Los Angeles saw more muted declines.


Almost one month later, however, and page views in most markets have more than recovered, with totals 18% higher. Las Vegas is up 45% from last year, San Antonio is up 45%, and L.A. is 32% higher.


Even the hardest-hit areas have mostly bounced back, though some of their page views remain lower year over year. New York is down just 2%, Boston is 4% lower, and Philadelphia is down 9%. Views in some areas remain significantly depressed, though, with Detroit and Pittsburgh still down 15%.


However, Zillow admits it can't be sure about what's causing the rebound: It could be either "optimistic buyers hoping to get an early jump on their plans as soon as restrictions are lifted, or simply from aspirational viewers stuck at home and seeking an escape through real estate."


In either case, with the U.S. unemployment rate above 15% this week, those higher page view counts do not indicate that people are taking a positive view of the economy.

For more info, visit us on:


www.CoutureRealtyLV.com


Follow us on: 

FB: Ken Couture Realty Your Home Sold Guaranteed

IG: @kencouturerealtylv

Twitter: Ken Couture

Pinterest: Ken Couture

LinkedIn: Ken Couture Your Home Sold Guaranteed

Contact us at:

Ken@CoutureRealtyLV.com

702-476-0060

#KenCoutureRealty

#KenCouture

#KenCoutureYourHomeSoldGuaranteed

#LasVegas

#HomeForSale

#RealEstate

Couture Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

UP5DB701E1507748.jpgThe data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. GLVAR MLS deems information reliable but not guaranteed. Copyright 2021 of the Greater Las Vegas Association of REALTORS® MLS. All rights reserved.
This site powered by CINC: www.cincpro.com