RISMEDIA, Jan. 10, 2007-Trulia.com, America's intuitive residential real estate search engine, announced the findings of the January 2007 Trulia Trends report. Consumers have traditionally relied on historical sales and pricing information to understand local real estate trends. With the launch of Trulia Trends, Trulia is introducing a new indicator for measuring the direction of the real estate market: consumer search behavior.
Developed from the company's proprietary data, the report focuses on real estate pricing trends and consumer search behavior from December 1 – December 31, 2006 for 15 of the largest cities in the United States.
Among the findings:
— The representative U.S. home shopper on Trulia is looking for a 1775 square-foot single-family home with 2.4 bedrooms and 1.7 baths at a cost of $883,986.
— Consumers will often search for bargains as well as high-end luxury homes, scanning a mix of established neighborhoods and up-and-coming areas.
— Real estate searchers in some cities — like Boston, Seattle and San Francisco — may be interested in moving out of state, while consumers in cities like Phoenix, Charlotte and Milwaukee prefer to keep it local.
Trulia also measured popularity across all of its listings to determine the ten most viewed properties nationwide. According to the December 2006 data, two categories of real estate attracted the most traffic: the bargain home in a hot market or high-end property listings that ranged from $1.25mm to $25.9mm.
"The Trulia Trends report highlights our company mission, to provide consumers across the country with the search tools and hyper-local information to assist in making one of the most important financial decisions of their lives," said Pete Flint, CEO of Trulia. "Over time, we anticipate consumer search behavior trends will become invaluable to help home buyers and real estate professionals stay ahead of their local market, and stay abreast of what's happening across the country."
Trulia also introduced National Heat Maps at the Inman Real Estate Connect conference in New York City, (http://www.trulia.com/home_prices/), an interactive map designed to help consumers in their real estate search, especially those who are relocating or are looking to expand their search beyond their city of residence. National Heat Maps provide visual representation of real estate trends such as average listing price, median sales price and popularity on the national, county and ZIP code level. Trulia currently provides heat maps for major cities across the U.S.
For more information, visit http://www.trulia.com.