It's a well-known fact that retail sales spike during the holidays, especially on Black Friday when prices are at one of their lowest levels of the year. But while sale signs are plastered all over the mall, you may wonder whether the Black Friday frenzy extends to the housing market. Realtor.com's Yuqing Pan looks at the states where house hunting is most and least impacted by the Thanksgiving holiday. Realtor.com says:
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.
The real estate news site found that states such as Oregon, Washington, Georgia, and Virginia, among others, were least impacted by the holiday season, while Louisiana, Wyoming, Indiana, and northeastern states were most impacted. In Hawaii, the amount of people looking for a home on Thanksgiving is 10% less than the average, while in New Hampshire it's 60% less.
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.