Numbers And The Selling Of Homes

Numbers And The Selling Of Homes


NEW YORK – Nov. 21, 2016 – The realtor.com®research team has found an unusual trend among listings on its site: a penchant for the number eight. About 178 listings on realtor.com have been priced at either $888,888 or $8,888,888 so far this year, with the majority of those homes in New York, San Francisco, Los Angeles, and San Jose, Calif.

So is eight a lucky number? Realtor.com speculates that the usage of the number eight in list prices is meant to attract Chinese home buyers, who are increasingly investing in U.S. real estate. In Chinese culture, eight is considered the luckiest number, and the word "eight" in Chinese translates to "fortune."

"It's an eye-catching strategy. [Chinese] buyers would see the price and be like, 'Why not check out the home?'" says Hao Yuan, a sales associate with LG Fairmont in New York. "The important thing is that it makes them feel lucky." However, homes with list prices that contain the number eight are selling only about 0.32 percent faster than other listings – so the perceived luck may not always bring about a quicker sale, realtor.com's research team found.

But you may want to avoid a list price with the number four. In Chinese, the numeral four is pronounced the same as "death." A Chinese buyer may even ask for a discount off the asking price if it has a four in it, says Tina Ying, a broker with New Century Real Estate in San Francisco.

The most dreaded number of all is 13, which is often associated with bad luck, realtor.com's analysis shows. Many high-rise buildings in the Western world don't include a 13th floor because of superstition.

Source: "The Lucky Numbers That Can Drive Up Your Home's Value," realtor.com (Nov. 16, 2016)

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