This past week, we traveled to Las Vegas to attend the 3rd Annual Zillow Premier Agent Forum.
A big portion of the event was focused on the Zillow Trends Report 2016 (highlights below); new Zillow products offered to agents to help best connect with the modern day homebuyer and seller; and then shifted to sessions based on leadership and personal growth. To cap things off, there was a swanky exclusive night of entertainment and cocktails at Omnia Nightclub – a BIG THANK YOU to Zillow Group for the hospitality!
Was a pleasure to hear Seattle’s Vija Williams speak about her team, and I bumped into Zillow CEO, Spencer Rascoff, too!
Here are a couple interesting data highlights on buyers, sellers and renters:
– Half the homebuyers in the US are under 36 years old & 47% are first-time buyers.
– 83% of buyers are shopping for single-family houses with top considerations being affordability and being in a safe neighborhood.
– Only 46% of buyers secure the first property they put an offer on, otherwise the average search takes up to 4.2 months!
– More than 50% of all homeowners purchase a property that needs updates.
– Sellers’ top regret is that they didn’t take more time to prepare for a sale (I can go on and on about how important this is in our current market!!).
– 63% of all sellers are listing a home for the first time and 38% of all sellers are members of Generation X.
– While looking for a property to rent, 58% of renters also consider buying.
– Renters spend an average of 10.4 weeks searching for a home, and they contact 5 landlords while submitting 3 applications during the process.
