It’s a short work week for many, as millions of U.S. workers take Thursday and Friday off to enjoy an extended Thanksgiving break. You might assume the long holiday weekend is a slow one for the housing market because people tend to suspend most activities to be with family and get in a little Black Friday shopping. But any dip in home-buyer traffic may be much more short-lived than you think.
While housing activity trends lower on an actual holiday, as expected, potential home buyers don’t sit out for too long, according to realtor.com® data. “The Thanksgiving slowdown only lasts as long as it takes to digest that huge mass of poultry — and hit a few Black Friday sales. By Saturday, it’s pretty much business as usual,” per Realtor.com®.
Considering the institution that Black Friday has become, does it also extend to housing? It turns out that it does — but it’s not the day after Thanksgiving. Housing’s Black Friday is Dec. 28, according to realtor.com®, which pinpointed it as the busiest day for real estate searches in the entire year. (Dec. 24 was the slowest.)
Source: “When Is Housing’s Black Friday? Some Surprising Holiday Home-Buying Trends,” realtor.com® (Nov. 23, 2015)