New York is the state most interested in investing in property, a new study has revealed.
The research, conducted by debt service coverage ratio (DSCR) lender Visio Lending, analyzed Google search data to determine which states are most interested in investing in property. The study combined 11 common search terms related to property and real estate to reveal the average monthly search volume in each state. The states were then ranked from ‘most interested’ to ‘least interested’ based on searches per 100,000 of their population.
With an average of 123 searches per 100,000 people each month, New York is the state most interested in investing in property. The Empire State averaged 24,313 monthly searches over the past year, with 7,475 of those being for the term “real estate investment trusts.”
Massachusetts ranked second, with slightly more than 7,500 average monthly searches over the past year, resulting in 108 searches per 100,000 population. Like New York, “real estate investment trusts” was the phrase most searched for (2,442).
New Jersey ranked third. The Garden State was the only other state to average 100 or more searches per 100,000 people. Again, 1,250 of the 9,258 average monthly searches were for the term “real estate investment.”
California was fourth. The Golden State had the highest average monthly search volume of any of the states in the top 10 but fell just short of 100 (99) searches per 100,000 people.
With 98 average monthly searches per 100,000 people, Maryland came in fifth. More than 1,800 of the 6,035 average monthly searches in the state were for the term “real estate investment trusts.’
Georgia, Hawaii, Virginia, Colorado and the state of Washington rounded out the top 10.
On the opposite end of the scale, West Virginia was the state least interested in investing in property, with an average of 31 searches per 100,000 people. It was also the only state to average fewer than 40 searches per 100,000 people.
Mississippi (42), South Dakota (44), Kentucky (44) and Iowa (45) all averaged 45 or less searches per 100,000 people.
CEO Jeff Ball said: “The study found that the national monthly search volume for terms related to property and real estate averaged more than 268,000 over the past year, which suggests that thousands of people are interested in investing in property. The results allow us to visualize where large proportions of those searches are coming from, which is both fascinating as well as important for anyone connected to the industry.”
