Housing Market Trends Report: Summer 2016

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How today’s buyer searches for—and chooses—a home

We’re midway through the year and the real estate season is in full swing. What better time to take a temperature check—not on the summer heat, but on how buyers search for homes? Data from the Zillow® Group Marketplace Report reveals some interesting new facts—and confirms other established ones—about the evolution of buyer behavior.

While the average buyer takes a little more than four months to find their new home, younger millennials (age 18–24), spend the least amount of time
searching, averaging just 3.7 months. With housing inventory still significantly low, competition remains heavy, so those who plan to make a move this year might not have the luxury of time when considering their options.

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