When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends

Thanksgiving evokes certain unshakable images: Long tables crammed with too much food. Beloved and bickering family members consuming way too much of that food. Overstuffed family members staggering away from the table to watch football. And once the crumbs and turkey bones and cranberries are cleared away, just about everyone gearing up for the biggest shopping day of the year: Black Friday.

While prowling the malls for fantastic deals has become enshrined as a traditional part of many Americans’ holiday season, it has long been considered conventional wisdom that this sales fervor doesn’t extend to shopping for a home—that there’s no deluge of would-be buyers surfing the Web for listings or slogging through the (presumed) snow to open houses.

But does the housing market really come to a screeching halt during the holidays? The realtor.com® team decided to put down its Best Buy circulars and Victoria’s Secret gift cards long enough to find out for sure. In order to measure people’s interest in shopping for a home, we used traffic data on realtor.com from throughout 2014. Not-quite-spoiler: Traffic is much lower on an actual holiday. But what about directly afterwards? And in different parts of the country?

We compared the traffic data for realtor.com on Thanksgiving Day 2014 with that of an average day in 2014’s fourth quarter, and then we identified states where house-hunting activity appeared to be most and least impacted by the holiday.

ashe county real estateIn balmy Hawaii, the amount of people house hunting on turkey day is only 10% less than the average for that quarter. However, in New Hampshire, the number is down by almost 60%.

And overall, the Thanksgiving slowdown only lasts as long as it takes to digest that huge mass of poultry—and hit a few Black Friday sales. By Saturday, it’s pretty much business as usual.

But according to our database, the number of scheduled open houses on the upcoming Thanksgiving weekend is going to be only 6% of the number from this past weekend. So for buyers serious enough to attend a Thanksgiving open house, your effort will likely pay off—you will be dealing with equally determined sellers and facing less competition.

Moving beyond Thanksgiving, we looked at the impact of all major holidays. Take a look at the graphic: Dark red indicates higher traffic, while light yellow indicates lower traffic.

So what is the true Black Friday of the housing business? Here’s a holiday shocker: Dec. 28 was actually one of the busiest days for real estate searches in the entire year, despite the fact that Dec. 24 was the single slowest.

The reason: When we’re over the holiday hump but still on break, it’s a great time to look for our dream home. The same reason explains the surge of activity on New Year’s Day. And, perhaps buying a house is a popular New Year’s resolution?

Another surprising, best-performing day on a holiday weekend: the other side of the year, July 6. Instead of traveling, many buyers apparently use the long weekend in the height of the buying season to search for homes and go to open houses.

Overall, the spring market typically has the best combination of inventory and value—more homes go onto the market, but prices have not yet thawed. If you miss out on that sweet spot, the second-best opportunity is in fall. Sept. 1, on Labor Day weekend, was another top performer—it’s all part of a seasonal pattern that buyers and sellers can use to their advantage if they are not constrained by school schedules or job transfers.

Besides family-oriented holidays, there’s one more holiday that significantly slows down home-searching activity. Nope, not Mother’s Day, not Father’s Day, but … Valentine’s Day. Think about it: Your significant other wants to take you out for a romantic dinner. Are you gonna say no because you want to stay at home to browse photos of fixer-uppers?

 *Source: Realtor.com’s article entitled, “When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends” by Yuqing Pan posted on November 23, 2015.  http://www.realtor.com/news/trends/real-estate-market-during-major-holidays/

Century 21 Heritage Realty is a full service Ashe County real estate firm helping clients buy and sell real estate in the Blue Ridge Mountains of North Carolina. We are based in West Jefferson, in the ‘High Country’ region of the mountains. Our location affords us with plenty of great amenities as well as lots of amazing views and land to roam. Click to begin browsing for NC Mountain real estate in our region. We would love to show you Ashe County NC real estate properties and help you find your dream home.

What is the Right Home for You?

ashe county homes for sale Before you begin thinking about which houses to look and what kind of house to buy in the NC mountains, consider you lifestyle. Century 21 Heritage Realty features listings of all types of Ashe County homes for sale. You’ll want to factor in your current needs and likes, and anticipate additional needs. Of course, your budget will determine the price range of the homes that you qualify for. Think of finding the right house as a balance or dance of balancing your needs and absolute “must-haves” with idealistic ideas and your wants.

If you love entertaining and spending time cooking delicious meals for your friends and family, you’ll be more interested in homes that come with a fully equipped kitchen with extra upgrades. If you and your kids love spending time in the outdoors, you may want to think about a yard where you can have a flower or vegetable garden. If you have numerous automobiles, you may think about homes with extra space in the garage areas or that have adequate parking. Work up a list of things that you like to experience in life, or want to enjoy more of and let that list be a guide as you work with us to search properties you are interested in.

Lastly, think about how your needs may change in the future and how long you are wanting to live in this particular property. If you are a newlywed, you probably are not too concerned with school districts and where you live right now, but easily as your family grows, you may become more concerned about where your children go to school and how close you are to resources that you will need. Some have a need to look at homes with plenty of space for additions, or ‘mother-in-law’ suites if you have parents in the elderly or aging segment.

Contact us or begin your search online here, for Ashe County Real Estate. We love representing buyers who are interested in finding the best property for their lifestyle. If you are not sure what you are looking for, we can help you narrow down your list of wants and likes and go from there.