There must come a time in any cyclical event, especially one as cataclysmic as the one now described as the “Great Recession” when the dissenting voices start to believe that there is a bottom and we may have reached it. Today’s headline from Bernard Hickey certainly alludes to that “Economic weather report: Car sales weak, but green shoots showing“.
A key indicator of the consumer psyche of the property market can be read in many ways – one of which is the number of property searches undertaken by keywords on this website.
The past 6 months has seen a steady decline in searches for the keywords that best describe the negative sentiment that was so prevalent in the latter part of 2008 and early 2009.
Desperate / must sell / motivated / urgent
These 4 words alone were generating well over 150 searches a week back in the first quarter of 2009 – today that total has fallen to around 80 a week.
By comparison the keyword of mortgagee is still the #1 searched word – last week a total of 742 such searches were carried out on the site, in the first few months of this year that weekly total regularly broke 2,000 searches a week.
As to the real estate industry’s propensity to insert these words into listings – here are the totals on the site today and the comparison back 6 months ago.
Desperate: 67 listings – down from 93
Must sell: 2,527 listings – down from 3,269
Urgent: 344 listings – down from 436
Motivated: 1,080 listings – down from 1,377