It’s probably safe to say we are all looking forward to the “Safer at Home” order to be fully lifted. While the conditions of the real estate market remain unpredictable, consumers are starting to search for homes again. Mortgage rates are still incredibly low, making homebuying easier than ever for customers who have otherwise had difficulty purchasing a home. According to an article by LendingTree, Google searches for homes have increased enormously since the beginning of April, with Memphis being one of the primary beneficiaries.
Top 10 “Homes for Sale” Searches Since April
City & State
Percentage Increase in Searches
Grand Rapids, MI
New Orleans, LA
What the Report Means
Memphis ranked #7 in the top 10 highest searches for “Homes for Sale” from March to April. LendingTree used Google search data to analyze the popularity of that phrase, “Homes for Sale,” in 50 of the country’s largest metro areas, as people often start their search online. All metros saw an increase in searches from their 2020 lows, and all but one increased from March to April. As more people flee larger cities, Memphis could start to see more and more attention from new homebuyers.
What this Means for You
Though COVID-19 created a temporary slow down in the housing market, it is clear that buyers are eager to find homes in Memphis again. As orders lift and people begin to feel safer visiting homes, we can expect the Memphis market to accelerate.
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