Trulia ($27.18 3.34%) has launched its Real Estate Lab, which will deliver inside information on the psychology and strategy of how buyers and professionals approach real estate.
The lab will statistically analyze the words and phrases associated with selling homes, allowing Trulia to reveal new insights into national and local housing markets in the U.S.
“With Trulia’s Real Estate Lab, we aim to reveal how consumers and professionals think and talk about real estate, and the strategies they use to buy and sell homes,” said Jed Kolko, Trulia’s chief economist. “Insights from listings and search behavior are the color commentary behind the price trends and other numbers that we regularly track.”
Based on the examination of millions of for-sale homes on Trulia through November 2012, the Real Estate Lab shows which phrases are linked to the most and least expensive homes for sale.
The lab discovered that homes that are marketed as a “magnificent estate” or “once-in-a-lifetime opportunity” are typically listed higher than $3 million. “Paneled library” and “Lutron lighting” also are most often associated with multimillion-dollar listings.