The Covid-19 pandemic is causing many people to surf Zillow (Z). Some are looking for bigger houses. Others, for a house in a better climate. And then there are those who don’t even know why they keep looking at the ads on the real estate site. Whatever the reason, the result is clear: the number of visitors to Zillow’s website is booming.
“Zillow had 9.6 billion pages visited on its website and app in 2020,” Amanda Pendleton, Zillow trends expert, told Yahoo Finance Live. “
While many economic trends have been geographically uneven during the pandemic, Zillow’s traffic numbers are on the rise across the board.
“Of the 100 largest subways in the country, each has seen an increase in traffic,” Pendleton added. “Now, of those 100 biggest subways, the top three we saw were Las Vegas, Stamford, Connecticut, and Austin, Texas.”
With its beautiful weather and low taxes, it’s no surprise to see Miami and Fort Myers, Florida in the top ten for traffic. But larger demographic and structural changes have also lifted Pennsylvania cities like Scranton and Allentown.
“There are demographic and pandemic factors that are driving people to surf Zillow, but also to move and buy homes,” Pendleton said. “You have millennials, which are the largest generational group in the country and they are getting older in their home buying years. They are in their mid-thirties. They want to settle down. They want to buy a house, and then the pandemic factors. directed. “
It’s a trend Zillow calls “the big shake-up,” and it’s leading to more than just an increase in Zillow traffic.
“Houses have gone off the market,” Pendleton said. “And it’s all over the country. The median time a home is put on the market and then on hold is 17 days from December. It’s 25 days faster than a year ago. “
Jen Rogers is an anchor for Yahoo Finance Live. Follow her on Twitter @JenSaidIt.
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