Announcing our annual search volume report, detailing apartment + condo search trends from 2019 through 2022.
Condo Search Volume Decreased in 2022:
Overall search volume for NYC condos has climbed each year except for 2022. There was a 3% decrease in condo search volume from 2021 to 2022.
Although there was a decrease this past year, overall search volume was up by 19%compared to 2019.
Condo Search Volume Trends Vary Year to Year:
Search volume for 2022 didn’t begin to see a decline until the fall when it dropped to below 2020 averages.
Each year August tends to have the highest volume of searches with August of 2020 surpassing 70,000 searches for the first time.
Year-to-year search volume tends to have a lift in January then decreases significantly in February.
Record Apartment Search Volume in 2022:
Since 2019, there has been an overall increase in NYC apartment search volume by 27%.
Search volume peaked in 2022 at 6,497,920 total searches which is an increase of 8% year over year.
Apartment Search Trends Impacted by Pandemic:
The normal seasonality of apartment rental searches usually increases over the summer months. This trend did not stay consistent throughout the pandemic.
Each year, search volume tends to follow a trend line that includes sharp decreases in February.
As of 2022, the normal pattern of search volume peaking over the summer has returned.