Where were people searching for real estate in January? Well that depends on whether you look at the total number of searches for real estate, or if you look at the number of searches adjusted for the number of towns a state has to attract those searches. States with more towns and places to live will get more searches as a whole. But, when you look at all searches coupled with how many towns in that state could attract those searches, the size of a state has a different impact. The states in the weighted search also provide some interesting places to research for real estate opportunities.
In January, the top states searched on REindex.com, The Site Engine®, were California, Illinois, Massachusetts, Missouri, Nebraska, New Jersey, New York, Ohio, Pennsylvania, and Texas - although not in that order. Many of these states have often been in the top ten of the "most searches" data because of the shear number of towns they have within their borders. The more towns, the more probability they have for collecting real estate search activity. Of course, there could be other reasons for their ranking, too. The new president is from Illinois, and one of the teams in the big football game was from Pennsylvania. But how did Nebraska show up in the top ten list? And I'd like the "Show Me State" to show me why they are there. The list presents some interesting trending information that could be the indicator of some good real estate growth opportunities.
When the number of searches is adjusted to reflect the number of towns in a state, there is another top ten list. For January, this list is made up of California, Florida, Idaho, Kansas, Kentucky, Minnesota, Mississippi, New Hampshire, Texas, and Virginia. California is one of the states on both lists this month. This could be a result of the feeling that the bottom has been found in CA. There are many areas of the golden state that are reporting increases in volume and price stabilization or increases. There is similar activity in the Florida real estate market. The last minute "Go Zone" activity in the Mississippi real estate market may be the reason for its inclusion in the list, or maybe it is the new casinos opening on the Gulf that have attracted searches.
Whether the Texas market has started to correct, or the Boise market is pulling real estate investors to Idaho, there is a reason that these states are being searched. If you are working in one of them, you might want to start studying what the reasons are if you don't already know. For example, if you are a lender you can target the new customer type. If you are a title company, you might push the importance of title insurance for distressed sales or the type of property that has increaseing demand. If you are an insurance company maybe you create a special package for coming investors or new companies relocating to the area.
With trending indications in hand, real estate professionals, investors, and consumers should be able to focus their attention on areas that are changing. Opportunities occur in both the up real estate market and the down. These trends only show activity. Those who can learn what the activity is from, and who can position themselves to use those opportunities, can do well in any market condition.