Zillow Sees Booming Traffic During Pandemic

Real estate has been a big topic since the COVID-19 pandemic, what with interest rates going down, and people remotely working not stuck to their locations. Lower taxes and better climate have also been giving people the incentive to want to relocate.

In the last year Zillow’s website traffic numbers have been exploding.

“Zillow had 9.6 billion page visits to its website and to its app in 2020,” Zillow’s Home Trends Expert Amanda Pendleton told Yahoo Finance Live this week. “That was up 1.5 billion from 2019. So, a ton of interest in Zillow surfing right now.”

“Of the 100 largest metros in the country, every single one of them saw an increase in traffic,” Pendleton added. “Now, of those 100 largest metros, the top three that we saw were Las Vegas, Stamford, Connecticut, and Austin, Texas.”

Both Miami and Fort Myers, Florida were in the top ten in terms of traffic and not surprising given their warm climates.

“There are demographic and pandemic-led factors that are driving people to both surf Zillow, but also to move and to buy homes,” according to Pendleton. “You have millennials, which is the largest generational group in the country and they’re aging into their home buying years. They’re hitting their mid-30s. They want to settle down.
They want to buy a home and then the pandemic-led factors.”

Zillow is calling this “the great reshuffling,” and it’s leading to a lot more than just a spike in Zillow traffic.

“Homes have been flying off the market,” Pendleton said. “And that’s all over the country. The median time that a home goes on the market and then goes to pending is 17 days as of December. That’s 25 days faster than a year ago.”

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.