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Essential Keywords For Higher Home Price

Based on half a million single-family transactions closed in the first half of 2017, CoreLogic’s engagement director and principal economist Bin He, generated a word cloud of word pairs extracted from public listing comments to determine how the closing price was impacted. Since geographic variation can dramatically affect price, the analysis has set a control for location to better understand the specific impact of keywords on homes across the country.

In the word cloud from CoreLogic, larger font sizes represented a larger impact, with the most notable keyword pairs being “pane windows”, “new construction”, “fully fenced”, “interior paint”, “exterior paint”, and others. Newly constructed homes showed to be priced higher than existing ones, while properties with the word pairs “quiet street”, “remodeled kitchen”, “natural light”, and “hardwood floors” were typically sold at a higher price. “Large backyard” also made a large impact, as noted in a previous analysis from CoreLogic, showing that American buyers have a strong preference for outdoor spaces. Accordingly, “outdoor space” made an appearance in the most recent study..

With pane windows at the top spot of impact for closing price, homebuyers appear to be conscientious about influencing their future utility bills. This can also be seen with keywords like “gas fireplace” and “gas range.”

The word cloud also noted multiple references to “paint”, including “new paint.” According to He, the simple and small investment of giving a home a new coat of paint can lead to a higher sale price. Those intending to sell their home should consider doing so to their exterior and interior walls for added impact.  

To see the word cloud and view the full CoreLogic analysis, click here.

About Author: Dean Terrell

After earning his B.A. in Writing Arts at Rowan University located in South Jersey, Terrell moved to Texas to pursue a career in publishing and editorials.
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