When the COVID-19 pandemic hit, many potential buyers decided to put their home search on hold. But it looks like buyers are getting back to searching for homes online.
According to recent analysis from LendingTree, which analyzed Google search data, search interest value for the term “homes for sale,” which measures the popularity of a search term on a scale of 1 to 100, jumped from a low of 56 when the pandemic hit to 86 by the end of April—an increase of 54 percent!
So, what does this mean for you? An increase in searches for the term “homes for sale” is a good indicator that buyer interest is starting to pick up again—so if you’re thinking about selling your home, consider that good news. And, if you’re thinking about buying, know that you’re not alone, and you may have some stiff competition for houses you want to buy.