RISMEDIA, March 23, 2007-Trulia.com released its March 2007 Trulia Trends report, tracking national consumer search behavior and pricing trends data to reveal insights on how consumers use the Internet to buy and sell homes.
This month's "Spotlight on" feature highlights search behavior in Phoenix, Arizona, whose "hottest neighborhoods" as denoted by consumer search activity include Central Phoenix and North Phoenix. A copy of the report can be obtained at: http://www.trulia.com/resources/Trulia_Trends_Report-March_2007.pdf.
According to Trulia's search data, consumers continue to search online for both "dream" and "deal" homes. Of the top 10 most viewed homes on Trulia.com, the most popular was a three-bedroom home in Rockingham, North Carolina listed at $18,590. Also on the list was a 15,000-square-foot Beverly Hills mansion listed at $24,950,000 – more than 1,300 times the price of the Rockingham home.
Additional Trulia Trend report findings for March 2007 by region include:
- The East dominated February's hottest cities chart, with Manhattan, Philadelphia, Brooklyn, Washington, D.C., and Queens all making the top 10.
- Southern cities including Virginia Beach, VA, Memphis, TN and Charleston, SC were three of the five biggest winners in month-over-month median list prices increases.
- Los Angeles experienced a 3.6% increase in median list price (month-over-month), while other cities in the western U.S., including Mesa, AZ and Colorado Springs, CO, saw large increases in search queries.
- The Midwest saw some volatility in their search queries, with Minneapolis experiencing a 50% month-over-month increase while both Naperville, IL was one of the cities that experience the lowest number of search queries.
"With more than 80% of home searches beginning online now, it's important to understand where, how and for what home buyers are searching," explains Pete Flint, CEO and co-founder of Trulia. "Our monthly Trulia Trends reports are designed to inform real estate professionals on key real estate search trends so they can better understand where opportunities exist and better serve their customers."
For more information, visit http://www.trulia.com/resources/Trulia_Trends_Report-March_2007.pdf and www.Trulia.com.
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