Whether it\u2019s the warmer weather or the end of hibernation, people have demonstrated a strong interest in apartments for rent during this time of year. The period starting with spring and going into summer is referred to as \u201cthe renting season\u201d in the industry. \u202fBut COVID-19 (Coronavirus) is changing the seasonal trends, forcing people into isolation, and drastically shifting renters\u2019 priorities.<\/p>\n
To get a clear image of this sudden change in renters\u2019 behavior, we looked at Google Trends as well as traffic behavior on our website since the Coronavirus outbreak.<\/p>\n
Looking at the traffic on RentCafe.com<\/a>, the number of sessions decreased by approximately 25% in the week of March 11-17, compared to the previous week, a stark contrast to what a typical traffic evolution would be during this time of year. In the same week last year, traffic saw a decrease of about 4% from one week to another, which is much more stable behavior under normal circumstances.<\/p>\n It\u2019s no doubt that the pandemic has already put the brakes on apartment searches as renters are trying to figure things out.\u00a0Other metrics on our site are confirming this atypical behavior. The overall traffic on the site decreased by about 22%, paid advertising traffic dropped by 28%, the rent affordability calculator<\/a> saw a 49% drop in users, and 48% fewer renters are searching for apartment utility information on our site. Not only has the traffic decreased sharply in the last week, but the last of couple days are showing the most abrupt changes.<\/p>\n