Executive Summary

A global pandemic, historic economic change and an unprecedented shift in the housing market have been hallmarks of the past year. But while these large-scale changes have shifted the landscape and have the potential to reshape sellers’ preferences over the longer term, many behaviors and attitudes remain the same.

The 2023 Consumer Housing Trends Report (CHTR) provides a snapshot of what housing consumers are thinking and doing in mid-2023. In this report, we take a deeper look at sellers (household decision makers who moved in the past year and sold their previous primary residence); In other reports, we examine renters and buyers more closely. Information about who sellers are in 2023 equips consumers and real estate professionals with the tools they need to make informed decisions in this transforming housing market landscape.

Who are sellers?

The typical US seller is 45 years old, with about a quarter (23%) age 60 or older. Most are partnered, married or previously married (85%), have at least some college education, and are most likely to sell a home in the South (40%). Demographic change tends to play out over a long time: Most of these characteristics have not changed substantially, if at all, over the last few years. Over two thirds of sellers (70%) also reported buying a home.

What do their homes look like?

Most sellers (80%) sold a single-family detached house — however, other home types like a townhouse/rowhouse (6%) or condo/co-op (4%), while representing a smaller share of transactions, still constitute thousands of sales. The typical seller’s previous home had three bedrooms, 2.5 bathrooms and was between 2,000 and under 3,000 square feet.
Survey Methodology

Research Approach

In order to gain a comprehensive understanding of US sellers, Zillow Group Population Science conducted three nationally representative surveys of more than 4,700 unique sellers. The study was fielded between April and June 2023. Wherever possible, survey questions from previous years were asked in the same manner this year to allow for the measurement of year-to-year trends in key areas of interest.

For the purpose of this study, “sellers” are household decision makers 18 years of age or older who moved and sold their previous primary residence within the past year.

Sampling & Weighting

Results from this survey are nationally representative of recent sellers. To achieve representativeness, ZG Population Science used statistical raking to ensure that the distribution of survey respondents matched the US seller population with respect to a number of key demographic characteristics. In order to align estimates with the most recent data on sellers, weighting utilized the US Census Bureau, 2021 American Community Survey and other external benchmarks.

Quality Control

To reduce response bias, survey respondents did not know that Zillow Group was conducting the survey. Several additional quality control measures were also taken to ensure data accuracy:
We identified and terminated any professional respondents, robots or those taking the survey on multiple devices.
Completion times were recorded to ensure that surveys submitted by the fastest respondents, who may have rushed through the survey, did not provide poor quality data. If necessary, these respondents were removed from the sample.
In-survey quality control checks identified illogical or unrealistic responses.

Additional Data Sources

Unless otherwise specified, estimates in this report come from the Consumer Housing Trends Report (CHTR) 2021, and year-over-year comparisons also use data from CHTR 2018, CHTR 2019, CHTR 2020, CHTR 2021, and CHTR 2022. To provide a fuller picture of the state of home seller characteristics, preferences and behaviors, we also analyzed data from other sources:

• US Census Bureau, 2021 American Community Survey – The most recently available dataset from the US Census Bureau’s survey of the US population. The ACS is the nation’s largest survey and is based on a probability sample; as such, it is considered one of the leading sources of information on US population and housing.
• US Census Bureau, 2021 American Housing Survey – The most recently available dataset from the US Census Bureau’s housing survey. The AHS includes housing details absent from the ACS, such as whether movers owned their previous home, their reasons for moving, and other detailed housing characteristics.
• U.S. Census Bureau, 2022 Current Population Survey Annual Social and Economic Supplement – The CPS ASEC offers the most recent demographic estimates on the US population.
• Zillow.com website metrics – To provide additional context for survey results, ZG Population Science also examined internal Zillow data on listing information.

The Typical Seller & Home Sold

In this section, we provide a high-level overview of key seller information and what the homes they sold looked like. According to the most recent Census Bureau American Housing Survey (AHS) data available, 3% of households in the country have recently sold. Throughout this section, information about sellers comes from CHTR, and information about other groups comes from ZG Population Science analyses using ACS, CPS and AHS data.

Age

The median age of US sellers is 45. About 12% are in their twenties or younger, while roughly a third (30%) are in their sixties or older. In other words, the age distribution of sellers represents somewhat of a middle ground when it comes to US housing consumers: They are typically younger than tenured homeowners (with a median age of 57) who have not moved in the past year, but older than renters (age 39). In regard to age, sellers are more similar to buyers (age 40) than tenured homeowners. These numbers have only shifted slightly year-over-year.

Race & Ethnicity

About two thirds of sellers are non-Hispanic white or Caucasian (70%), higher than the overall share of the US adult population that is white (63%).

Region

The largest share of sellers live in the South (40%), followed by the Midwest (23%) and West (22%). The smallest share lives in the Northeast (15%). Sellers largely follow the distribution of US adults, with a slightly higher concentration in the South – which has historically had more home construction and inventory than other regions.

Income

The annual median household income among sellers is $95,000 to $99,999, higher than the overall national median (2022) of $70,784. [1]

Education

Sellers tend to be more educated than US household decision makers overall: 49% of sellers have at least a four-year degree, higher than 35% of overall U.S. household adults.

Relationship Status

About 80% of sellers said that at least one life event influenced their decision to move and sell their home, like a change in household or family size (54%), or getting married, divorced or separated (34%). Prior research has shown that the sale and purchase of a home is often tied to family formation or other life events. This relationship between homeownership and family formation helps explain why most sellers are either currently married/partnered (70%) or have been married in the past (15%).

Home Type, Beds, Baths, and Size

The typical (median) seller sold a 3-bed, 2.5-bath, single-family detached house between 2,000 and 2,999 square feet.

Most Sellers Also Buy

Nearly three quarters of sellers also buy a home

About seven in ten sellers (70%) reported buying a home in addition to selling one. About half of these dual seller-buyers upgraded — buying a more expensive home than the one they sold (54%). About a third spent less (31%) and one in seven (14%) spent about the same.

Most seller-buyers sell first, then buy

A majority of dual seller-buyers (58%) said they sold first and then bought. About one in three (32%) said they bought first, and the remaining one in ten (10%) said they did both at or around the same time.

Managing to sell and buy at the same time is the exception for all age groups, but older seller-buyers were most likely to pull it off: About one in six (16%) in their 50s managed both at the same time, versus only 5% in their 30s and 7% in their 20s and younger.

Half of seller-buyers upgrade

Seller-buyers are more likely to buy a home with more bedrooms (32%) than fewer (19%). However, the largest share buy a home with the same number of bedrooms (49%). The smallest share of seller-buyers bought a home with fewer bathrooms (20%). Buying a home with more (40%) or the same number (also 40%) of bathrooms was more common.

Upsizing seller-buyers trend younger

The median age of a seller who reported buying a home with more bedrooms was 40 years – and the same for those who bought with more bathrooms. For those who bought a home with the same number of beds/baths, the median was 45. And the typical age was 50 among those that bought a home with fewer bathrooms and 57 for those that bought with fewer bedrooms.

Upsizing/Upgrading

Seller-buyers that bought	Total	Age 18-29	Age 30-39	Age 40-49	Age 50+
More bedrooms	32%	30%	43%	36%	22%
More bathrooms	40%	45%	47%	44%	31%
A more expensive home	54%	59%	67%	59%	39%

Downsizing/Downgrading

Seller-buyers that bought	Total	Age 18-29	Age 30-39	Age 40-49	Age 50+
Fewer bedrooms	19%	22%	7%	12%	31%
Fewer bathrooms	20%	25%	13%	15%	27%
A less expensive home	31%	23%	17%	21%	52%

Upgrading seller-buyers trend higher income

The typical seller who buys a more expensive home reports a household income of $100,000 to $124,999. In contrast, the median income of a seller-buyer who buys a less expensive home is $75,000 to $79,999.

Life events largely motivated homeowners to sell

Most sellers (80%) cite at least one life event as an influence on their decision to move and sell their home. The most common was a change in household or family size (54%), followed by working remotely more often (41%).

Influenced decision to move and sell	Total Sellers	Also bought a home	Did not also buy
Change in household or family size	54%	54%	55%
Working remotely more often	41%	40%	43%
New job or job transfer	37%	37%	39%
Retired	35%	33%	40%
Got married, divorced or separated	34%	31%	39%
Working remotely less often	34%	32%	38%
Job loss or other involuntary unemployment	31%	28%	36%
NET: Life event influenced	80%	78%	84%

The Typical Seller Timeline

 

Sellers most commonly report some urgency, little rush

Sellers were most likely to describe their selling timeline as “medium” (45%) – some urgency, but not rushed. About two in five sellers said their timeline was “relaxed” (39%) – able to take their time and wait for the best offer. And the smallest share (16%) said they faced a “short” timeline in which they have to sell their home quickly.

Seller timelines were remarkably similar to that of successful buyers.

Described their Timeline as…	Sellers	Successful Buyers
Short: I had to sell my home/buy a home quickly	16%	19%
Medium: There was some urgency, but I was not rushed	45%	41%
Relaxed: I was able to take my time and wait for the best offer/explore my options	39%	40%

2-3 months of serious consideration typically precede officially listing

The typical (median) seller reported seriously thinking about selling for 2 – 3 months before ultimately listing their home. About one in ten (10%) said they thought about it for less than a month, while closer to one in five (19%) said they thought it over for 6 months or longer.

Older sellers were more likely to report a longer time thinking about selling: Almost a third of sellers in their sixties and older reported taking six months or more, while only 13% of sellers in their thirties and younger said the same.

Seriously thought about selling home before listing for	Total Sellers	Age 18-29	Age 30-39	Age 40-49	Age 50-59	Age 60+
Less than 1 month	10%	7%	7%	10%	12%	15%
1 to less than 2 months	17%	17%	19%	17%	14%	15%
2 to less than 3 months	24%	39%	30%	23%	19%	10%
3 to less than 4 months	17%	18%	22%	19%	8%	13%
4 to less than 6 months	13%	7%	10%	14%	21%	17%
6 months or more	19%	13%	13%	16%	26%	31%

 

Almost two thirds considered renting out their home before selling

Almost two in three (64%) sellers said they at least thought about renting out their home, with about half that group (30% of sellers) saying they seriously considered doing so. Younger sellers were especially likely to say that they considered renting out their home before ultimately selling.

	Total Sellers	Age 18-29	Age 30-39	Age 40-49	Age 50-59	Age 60+
Never considered renting out home	36%	21%	18%	26%	51%	69%
Seriously considered renting out instead of selling	30%	32%	44%	36%	19%	12%
Thought about renting out, but more serious about selling	34%	47%	39%	38%	31%	19%
Net: Considered renting out home	64%	79%	82%	74%	49%	31%

Cooler Market May Be Driving Sellers to Do More Work

 

Despite rising rates, monthly payments, sale prices continue upward

As high rates drive up monthly payments for most buyers, sellers show no sign of accepting lower home prices. The median seller reported selling their home for $300,000 in 2023, up from $285,000 in 2022, despite higher rates driving up monthly mortgage payments and forcing many would-be buyers to the sidelines.

	2018	2019	2020	2021	2022	2023
May ZHVI	$227,060	$238,784	$251,602	$288,261	$338,466	$341,994
Median Self-Reported Final Sale Price [2]	$210,000	$222,000	$225,000	$230,000	$285,000	$300,000

 

Offers received

While the median seller has reported getting the same number of offers (2), the share that reported receiving 4 or more appears to have peaked in 2022 (26%). Closer to one in five (19%) got 4 offers or more on their home – more similar to 2019 (17%) than 2022 (26%). Since 2019, the share of sellers that report selling without any offers (often sellers who forgo the traditional selling process, often selling to friends or family) fell 12 points from 14% in 2019 to 2% in 2023. [3][4]

Number of Offers	2018	2019	2020	2021	2022	2023
0	11%	14%	12%	9%	3%	2%
1	36%	36%	37%	31%	23%	20%
2	23%	22%	23%	20%	27%	33%
3	14%	12%	13%	16%	22%	26%
4 or more	15%	17%	14%	24%	26%	19%
Median (typical)	2	2	2	2	2	2

 

Majority had offers that fell through

For the first time since Zillow began tracking, a majority (56%) of sellers reported having at least one offer fall through. Not only are sellers less likely to get 4 or more offers, but the offers they do receive may include more contingencies that allow buyers to back out. [5]

Number of Offers that Fell Through	2018	2019	2020	2021	2022	2023
0	59%	60%	58%	56%	54%	44%
1	24%	21%	21%	21%	23%	25%
2	8%	9%	10%	11%	12%	18%
3	4%	3%	4%	6%	7%	8%
4 or more	5%	8%	7%	7%	4%	4%
Median	0	0	0	0	0	1

Money, financing most common reason an offer falls through

Among sellers that say they had at least one offer fall through, about half (53%) cite issues with money, mortgage, or financing as a reason. Issues from the inspection report (30%) follow, similar to 29% who say the appraisal came back lower than the purchase price. About a quarter (25%) said the buyer could not sell their home. About one in ten (9%) cited something else.

Reason sellers report an offer fell through
Issues with money/mortgage/financing	53%
Issues from the inspection report	30%
Appraisal was lower than purchase price	29%
They buyer could not sell their home	25%
Another reason	9%
I do not know	3%

Cash offers aren’t king

Most sellers (67%) said that at least one of the offers they received was all cash or did not include a financing contingency. The fact that about three quarters (76%) of buyers purchased with a mortgage, though, suggests that buyers who finance with a mortgage can still compete with cash offers — assuming their offer is sufficiently appealing in other ways.

Not surprisingly, sellers generally value money and time when selling their home. When asked about their top consideration when selling their home, most have consistently reported maximizing profit as their top priority (55% of sellers reported this as their top priority and 84% ranked it among their top two). Second to profit, sellers have been most likely to consider selling within their target timeframe a top priority (33%, 87% among their top two). Taken together, these pieces of information suggest that a cash offer can still fail if a seller feels that the offer is too low or risks delaying the sale (insufficient earnest money or the offer being contingent on the sale of the buyer’s home, for example).

Home inspections are still common, despite offers waiving inspection contingencies

Also reflecting that the market remained a seller’s market, most sellers (63%) said they received at least one offer that waived an inspection. However, 67% of successful buyers said their final winning offer was contingent on the property passing an inspection. A similar share of sellers (66%) said that the offer they ultimately accepted was contingent on the property passing a home inspection. And an even greater share of sellers (90%) reported that a potential buyer completed an inspection on their home at least once.

The discrepancy between offers that waive inspections and the share of buyers who complete one suggests that waiving inspection contingencies is not a surefire way to win against other offers. [6]Much like competing with cash, buyers who insist on an inspection can still generally win if their offer is adequately appealing to a seller’s desire for profit and undelayed timeline.

Share of Sellers that Reported	2018	2019	2020	2021	2022	2023
0 Inspections completed by a potential buyer	19%	21%	19%	16%	14%	10%
1-3 Inspections	73%	71%	72%	73%	79%	83%
4 or More Inspections	8%	8%	9%	12%	7%	6%
Median number of inspections	1	1	1	1	1	1

Sellers stick with agents

Rising digital options like remote viewings, 3D tours, and instant offers appear to complement the services that real estate agents offer, not replace them. Sellers’ use of a real estate agent has remained high over the last four years. [7] Indeed, sellers are more likely to use a real estate agent (90%) than other resources to sell their home, such as a website on a computer (75%), mobile website (69%), app (64%), friend/relative/neighbor/colleague (53%), direct mail (38%) or print ad (35%).

Share of sellers who used each resource to help sell or promote the sale of their home	2019	2020	2021	2022	2023
Real estate agent	83%	83%	82%	88%	90%
Website on a laptop / desktop computer	51%	54%	66% [8]	64%	75%
Mobile website on a smartphone / tablet	40%	44%	55%	55%	69%
App on a smartphone / tablet	37%	42%	48%	51%	64%
Friend, relative, neighbor or colleague	43%	41%	42%	46%	53%
Print ad	32%	33%	26%	31%	35%
Direct mail (e.g. newsletter, flyer, postcard)	25%	31%	24%	32%	38%

Selling Activities

 

Desire for digital options outpaces current offering

While 88% of sellers reported using at least one digital tool when selling their home, an even greater share (94%) said they would ideally use at least one – a six point divide.

The most common digital tool that sellers reported using was signing paperwork online/digitally (55% did this, but 61% said they would like to). Storing home sale documents digitally in one central service (41%) and using remote or mobile notary options to complete closing (40%) were less common.

Share of sellers that used/would ideally use each digital tool	Used	Would Ideally Use
Sign paperwork online/digitally	55%	61%
Use remote or mobile notary options to complete closing	40%	45%
Store home sale documents digitally in one central service	41%	44%
At least one of the above	88%	94%

Open houses more common than ever

2023 marks the first year that the median seller reported having 2 open houses — up from 1 every since 2018 when Zillow began tracking seller open houses.

2023 also marked the smallest share of sellers reporting forgoing open houses entirely – just one in five (21%) reported holding zero. While other pandemic trends like increasing digital tool use persist, the same is not true for forgoing open houses.

Share of Sellers that Reported Having	2018	2019	2020	2021	2022	2023
0 Open Houses	37%	38%	39%	43%	33%	21%
1-3 Open Houses	49%	44%	45%	44%	56%	68%
4 or More Open Houses	14%	16%	16%	13%	11%	11%
Median number of open houses	1	1	1	1	1	2

The increase in self-reported open houses among sellers is likely a result of market conditions: Higher rates and monthly payments mean that sellers have to do more work to attract buyers. Given that sellers are unlikely to compromise on price, they appear more likely to put in more work over more time to achieve a sale price that they perceive as acceptable.

Most sellers report leaving their home at least once for a private showing or open house (78%). Like in 2022, sellers were less likely to report doing so four times or more in 2023 (15% compared to 27% in 2021 and 32% in 2020).

Share of Sellers that Reported Leaving Their Home for a Private Showing or Open House	2019	2020	2021	2022	2023
0 times	30%	28%	32%	28%	22%
1-3 times	39%	40%	42%	51%	63%
4 times or more	31%	32%	27%	19%	15%
Median	2	2	1	1	2

 

Taking home off the market is the exception, but increasingly common

About two in five sellers (60%) never take their home off the market until it is sold. Temporarily taking a home off the market appears to trend more common since 2021, when only 28% reported doing so. That number increased to 31% in 2022 and 40% in 2023.

Share of Sellers that Reported temporarily taking their home off the market	2018	2019	2020	2021	2022	2023
0 times	71%	71%	66%	72%	69%	60%
1-3 times	25%	23%	26%	23%	27%	35%
4 times or more	4%	6%	8%	5%	5%	5%
Median	0	0	0	0	0	0

Sellers more likely to report at least one home improvement in 2023

Most sellers (79%) said they completed at least one improvement project as part of selling their home (e.g. painting, redecorating, kitchen improvement, new appliances, replacing/repairing flooring, etc).

2023 marks an increase in the share of sellers that reported making at least one home improvement. In 2021 and 2022, 71% of sellers reported making at least one – rising 8 points to 79% in 2023.

	2021	2022	2023
Completed at least one home improvement	71%	71%	79%

 

Younger sellers more likely to report home improvements

Younger sellers are more likely to report completing at least one home improvement: 87% of sellers in their 20s or younger say they completed at least one, as did 89% of sellers in their 30s, 85% in their 40s, 65% in their 50s, 66% in their 60s, and 60% of those in their 70s and older.

Share of sellers that	All Sellers	Ages 18-29	Ages 30-39	Ages 40-49	Ages 50-59	Ages 60-69	Ages 70+
Completed at least one home improvement	79%	87%	89%	85%	65%	66%	60%

 

The Seller-Agent Relationship

Almost all sellers (92%) indicate some kind of agent use. About three quarters (74%) said they hired an agent to help promote their home and find potential buyers. And about one in five (18%) say they hired an agent to finalize the sale, but found potential buyers and promoted the home on their own.

Most sellers hire the first agent they contact

The typical (median) seller contacted only 1 agent. Among sellers that used an agent, 53% contacted only 1. Almost half (45%) contacted between 2 and 4. Only 2% reported contacting 5 or more.

Before ultimately hiring their agent, sellers reported contacting	Sellers that used an agent	First-time seller	Repeat seller
1 agent	53%	54%	20%
2 agents	26%	28%	23%
3 agents	14%	13%	14%
4 agents	5%	3%	8%
5 agents or more	2%	2%	3%
Median number of agents contacted	1	1	1

Dual seller-buyers usually hire the same agent for both transactions

About two thirds (65%) of sellers that also buy hire the same agent to help sell their previous home and buy their new one.

About 2 in 5 sellers first found their agent online

Increasing likelihood of sellers finding their agent online persists in 2023: 38% reported first finding their agent online, up from 30% last year, 16% in 2019, and 15% in 2018. About a quarter (26%) reported finding their agent on a real estate website; 6% from a search engine, and 6% from a social networking site. Conversely, past experience with their agent continues to fall from its high of 23% in 2018 to 11% in 2023.

Share of Sellers with an agent that said they first found their agent from each resource	2018	2019	2022	2023
Real estate website / app (e.g. Zillow, RE/MAX, Realtor.com)	9%	2%	20%	27%
Search engine (e.g. Google, Bing)	3%	8%	4%	6%
Social networking website / app (e.g. Facebook, Nextdoor, Twitter, Instagram)	3%	6%	6%	6%
Net: Online	15%	16%	30%	38%
Past experience with this agent, realtor, or broker	23%	21%	15%	11%
Attended an open house and met agent or broker	5%	7%	5%	5%
Saw contact information on For Sale/Open House sign	5%	5%	3%	5%
Referral from other agent, realtor, or broker	3%	6%	5%	4%
Referral from friend, relative, neighbor or colleague	28%	22%	18%	18%
Referral from home builder	–	–	3%	3%
Net: Referral	31%	28%	26%	25%
Newspaper ad	1%	3%	2%	1%
Direct mail (e.g. newsletter, flier, postcard)	2%	3%	3%	3%
Know them from my community	13%	16%	12%	9%
Other	5%	1%	2%	3%

Trustworthy, responsive among highly important agent characteristics

Like in previous years, trustworthy (84%) and responsive (82%) first impressions were among the characteristics sellers were most likely to consider highly important in an agent. Similarly high were local and neighborhood-specific knowledge (77%), a positive reputation in the community (77%), and strong sales history (77%).

While not among the top characteristics, high importance of a lower commission or rebate continued to grow among seller responses in 2023 (62%, from 57% in 2022 and 49% in 2019 and 2018). Given the increasing deterrent that high mortgage rates present to many seller-buyers, remaining sellers may be more emboldened to request such a rebate, and agents may be more likely to offer one.

Considered each characteristic very/extremely important in an agent, among sellers that used an agent	2018	2019	2022	2023
Positive general reputation in the community	74%	68%	72%	77%
Was part of a recognizable brokerage (e.g. RE/MAX, Coldwell Banker, Century21)	57%	55%	53%	63%
Strong sales history / high number of recent sales	69%	66%	67%	77%
Online reviews and ratings of the agent or broker	49%	52%	56%	73%
Agent or broker was part of a team	46%	50%	51%	62%
Past personal experience with the agent or broker	55%	58%	58%	65%
Referral from friend, relative, neighbor or colleague	52%	52%	56%	64%
Initial impression of agent or broker: responsive	81%	76%	74%	82%
Initial impression of agent or broker: trustworthy	86%	77%	78%	84%
Had local market and/or neighborhood-specific knowledge	80%	74%	74%	77%
Charged a lower commission or offered a rebate	49%	49%	57%	62%

 

Sellers Value Floor Plans, Virtual Tours in their Listings

Sellers increasingly likely to include a virtual tour, floor plan in their home listing

In 2023, sellers were more likely to report including a virtual tour (up 18%) and/or floor plan (15%) in their for-sale listing than in 2022. Sellers in their 30s were about 20% more likely than sellers overall to report including a virtual tour and 63% more likely than sellers in their 50s and older. A similar trend held for floor plans; sellers in their 30s were about 16% more likely than sellers overall, 18% more likely than those in their 50s, and 52% more likely than those in their 60s and older.

Virtual tours, interactive floor plans, high resolution photography make sellers more likely to hire an agent

Most sellers say they are more likely to hire an agent who includes virtual tours and/or interactive floor plans in their services (78%). Most also said that they are more likely to hire an agent that includes high resolution photography (81%) in their services.

Sellers that say they are more likely to hire an agent that includes each in their services	2022	2023
Virtual tours and/or interactive floor plans	70%	78%
High resolution photography	–	81%

The share of sellers that say they are more likely to hire an agent that includes virtual tours, interactive floor plans, and/or high resolution photography peaks among sellers in their 30s, but stays high across age groups.

Sellers that say they are more likely to hire an agent that includes each in their services	Total Sellers	Ages 18-29	Ages 30-39	Ages 40-49	Ages 50-59	Age 60+
Virtual tours and/or interactive floor plans	78%	73%	86%	77%	71%	73%
High resolution photography	81%	77%	88%	82%	78%	75%

 

Most sellers consider floor plans and virtual tours highly important listing characteristics

Most sellers say that including a virtual tour in their home listing is very or extremely important (60%) – compared to only 17% who said it was not very or not at all important. An even larger share (76%) said that including a floor plan in their home listing was a highly important listing characteristic.

 

 

[1] Median household incomes are from U.S. Census Bureau, 2022 Current Population Survey Annual Social and Economic Supplement
[2] Self-reported sale prices tend to be lower than the Zillow Home Value Index (ZHVI). ZHVI measures what a buyer would expect to pay when shopping on the open market. Such sales exclude irregular circumstances like buying from family, friends, or someone a buyer knows personally. Such informal sales tend to be at lower price points, which causes self-reported numbers to trend lower than market prices.
[3] This change may partly be due to measurement change. Starting in 2022, the question moved to multiple choice from text entry in order to reduce respondent burden (especially for sellers who respond via mobile phone) and improve data quality. Additionally, higher sale prices may have encouraged more people to sell via the traditional process rather than through friends or family.
[4] Moreover, in April 2022, homes that sold typically went pending in seven days. This is less than one-third the amount of time pre-pandemic (24 days in April 2019).
[5] The share of sellers that self-report having an offer fall through trends much higher than the share of for-sale listings that return from Pending to For Sale, which has wavered between 1% and 4% according to internal Zillow data. When sellers self-report, they are likely also including cases where they experienced a delay or surprise hurdle before closing – or cases where an offer they ultimately did not accept got withdrawn. Both measures, though, can help reveal market conditions and how favorable they are for sellers and buyers.
[6] Additionally, some sellers may have included an inspection with the listing itself, reducing the need for the buyers to include their own inspection as a condition of the sale, and some buyers may have had an inspection prior to moving in (but not as a condition of the offer).
[7] CHTR began asking this question in its current format three years ago, in 2019.     
[8] Prior to 2021, CHTR was collected by an external vendor. Methodological improvements that accompanied a shift to in-house data collection likely overstate the magnitude of year-to-year change for many resources, especially website, mobile and app usage.