Apartment Rental and Residential Home Shopping Patterns

Sometimes you can see patterns of behavior and just can’t explain why. In this case we have 2 sites that serve the residential real estate markets – ApartmentFinder.com serving the rental consumers and RealEstateBook.com serving residential home buyers. I know that there is limited overlap in these markets, but what I find interesting is there is a very different set of shopping behavior data that we see between these two destinations. Here below are normalized views of the past 6 weeks of lead data

It seems that real estate shoppers are always interested in real estate information. While there is a gradual decline in demand as the week progresses from Sunday to Saturday, most days are about the same volume of lead production.

TREB leads per day

However, apartment shoppers like to shop during the week – especially at the start of the week. The Monday/Tuesday phenomenon repeats itself almost every week of the year (except holidays).

AF leads per day

If there are any takeaways from these patterns I walk away with these:

1 – There is never a bad time to advertise for real estate.

2 – If you are marketing an apartment rental, time your prgrams to capture that Monday/Tuesday lift.

I am curious to hear any theories why we might consistently see this pattern!

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4 responses to “Apartment Rental and Residential Home Shopping Patterns

  1. Here’s a thought:

    Property owners (not just SFR owners) have general vested interest in real estate. How much is your property worth? What did the neighbor’s house sell for? How much are seller’s getting on a per unit basis in my area/zip code?

    Versus

    Renters have a particular interest in a particular type of real estate tied to cost and date. What can they afford and where? Can they move by their move-out date? Do they accept pets?

    • @GreenLady – That is a valid and interesting observation about the different behaviors on our various sites. That is why I measured leads rather than traffic. Leads in this case are emails to real estate agents requesting more information about a property and emails to property management companies requesting more info about a rental community. So, while we have different conversion rates of visitors to leads on the two sites, the actual “shopping” behavior is different.

  2. Good post Todd. I’ve been aware of the consistency of the home shopper, but never thought about comparing to apartment shoppers.

    The only explanation I have at hand, is the home shopping process involves a greater financial commitment and carries with it a greater sense of “I better get this right, becasue it’s not easy to undo”. Maybe that contributes to a longer search process.

  3. Pingback: Good reads for Jan 25, 2010 | Dan McCarthy's ViralHousingFix

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