Holiday Housing Trends You Wouldn’t Expect

It’s a short work week for many, as millions of U.S. workers take Thursday and Friday off to enjoy an extended Thanksgiving break. You might assume the long holiday weekend is a slow one for the housing market because people tend to suspend most activities to be with family and get in a little Black Friday shopping. But any dip in home-buyer traffic may be much more short-lived than you think.

While housing activity trends much lower on an actual holiday, as expected, potential home buyers don’t sit out for too long, according to realtor.com® data. “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,” the website’s research team notes.

Realtor.com® took its traffic data from Thanksgiving Day 2014 and compared it to average traffic for the fourth quarter of that year. The site discovered the states where house-hunting activity appeared to be the most and least impacted by the holiday.

Holiday

The housing markets in some states had plenty to be thankful for on Turkey Day: In Hawaii, for example, the number of buyers searching for a home on Thanksgiving was just 10 percent lower than the average for the quarter. However, in New Hampshire, the number plummeted by nearly 60 percent on Thanksgiving Day.

Considering the institution that Black Friday has become, does it also extend to housing? It turns out that it does — but it’s not the day after Thanksgiving. Housing’s Black Friday is Dec. 28, according to realtor.com®, which pinpointed it as the busiest day for real estate searches in the entire year. (Dec. 24 was the 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,” realtor.com® notes. “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?”

Source: “When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends,” realtor.com® (Nov. 23, 2015)

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