Top 14 real estate websites, January 2014
Website/Total visits/Share of visits
1. Zillow/57,251,451/15.71 percent
2. Trulia.com/30,294,825/8.31 percent
3. Realtor.com/26,292,335/7.21 percent
4. Yahoo! Home/21,322,132/5.85 percent
5. Homes.com/10,141,145/2.78 percent
6. Apartment Guide/6,933,588/1.90 percent
7. Rent.com/5,170,450/1.42 percent
8. MSN Real Estate/4,847,430/1.33 percent
9. Apartments.com/4,317,852/1.18 percent
10. LoopNet/4,251,186/1.17 percent
11. HomeAway/4,189,206/1.15 percent
12. Redfin/4,163,199/1.14 percent
13. ForRent.com/4,074,682/1.12 percent
14. ZipRealty/3,710,863/1.02 percent
According to an Inman news report more than 364 million online real estate searches were done in the month of January. The total real estate website searches were up a whopping 25 percent from December!
The report, while interesting came as no surprise based on recent market activity. The increase in online searches, the first step in the home buying process for many, is just the beginning and should be seen as a preview of coming attractions.
Buyers are not only driving home values up they are driving neighborhoods, visiting open houses and calling their agents. They are getting prequalified with their lenders.
Multiple offers on homes priced under $400,000 are considered commonplace, especially in south Placer.
The number of properties sold this year is down 13 percent from last year but the average price per square foot is up by 29.4 percent.
I expect that home sellers will continue to hold at or near their asking prices because the current low inventory leaves buyers with fewer choices and sellers know it. An even buyer and seller market is considered to be 6 months of inventory. The greater Auburn area has 2.5 months of inventory.
Real estate investors are on their second and third round of flips bringing fresh new inventory into the market. The buy and hold properties are rented. This has created stability in the rental market. Of the top 14 real estate websites over 20 million people searched for rentals in January.
Jumbo loans are being made by private equity groups. They don't have the same strict qualifying requirements that conventional loans that are sold to Fannie and Freddie have. This means that more higher-end homes will be sold in 2014.
This year should end on a high note with increases in real estate values topping 6 percent. Last year saw a 12 percent increase. That means a 20 percent increase in personal wealth in 24 months!
Home ownership is a matter of Good Home $$$s and Sense!