Zillow study finds when more people save a home as a favorite, the quicker it goes off the market.
Apparently, “favoriting” is now a word. It’s what home shoppers do on Zillow. As bad as it is for the English language, it is good for home sellers. According to a new Zillow analysis, homes with more favorites sell faster and for more money, an indication of how competitive the housing market has become.
Homes across the U.S. that receive 30 or more favorites within their first week of hitting the market typically sell in under two weeks, says Zillow, with more than 40% selling above list price. But homes that get 10 or fewer favorites in their first week go for less money and take over a month to sell.