Downtown Grand Rapids is poppin!
Grand Rapids, Michigan is the most searched metro in the USA for prospective home buyers, according to a recent study.
LendingTree published a list of the 50 largest metros in the U.S. in order of the most internet searches for “homes for sale” since the COVID-19 pandemic.
Spurred by record-low rates and relaxed social distancing guidelines, in-person home showings have returned, and the volume of mortgage applications have spiked over recent weeks.
“There are probably people who think there are going to be bargains in the marketplace,” LendingTree Chief Economist Tendayi Kapfidze said. “They might be anticipating that there will be fewer buyers competing because many people have had a disruption to their incomes or are uncertain about the outlook for their jobs. The low interest rates also make it an attractive time.”
Google defines search popularity using “search-interest values.” These values exist on a scale of 0 to 100 with 100 meaning the search term is at peak popularity.
The Grand Rapids metro area saw a 138.1% increase in search interest value since the 2020 low. At its lowest point, the search interest value for homes in Grand Rapids was 42, but by the end of June, it sprang up to 100.
Metros with the largest percent increase in Google searches for “homes for sale” since the 2020 low:
- Grand Rapids, Michigan
- Providence, Rhode Island
- Minneapolis, Minnesota
- San Diego, California
- Buffalo, New York
- Rochester, New York
- Baltimore, Maryland
- Philadelphia, Pennsylvania
- Detroit, Michigan and New York City (tie)
To gauge how people are feeling about buying homes right now, the team at LendingTree analyzed Google search data to see how popular the search term “homes for sale” is in 50 of the nation’s largest metros. The study found searches have increased from their 2020 lows across the nation.
LendingTree Home Sales List