With Reddit planning to go public next week, the following chart takes stock of the social media platform’s grounding in the United States right now, placing it within the context of other social media giants.
According to data from a Statista Consumer Insights survey conducted in 2023, around 16 percent of regular U.S. social media users say that they frequently use Reddit. Of the platforms selected for this chart, this is most comparable to the user base of LinkedIn in the U.S.. Facebook is still by far the most popular social media platform, followed by YouTube and Instagram.
Looking for patterns in demographics across the platforms, the share of men on Reddit was slightly higher to that of women (18 percent men; 14 percent women). In the U.S., this could also be observed with Twitter (39 percent men; 23 percent women) and LinkedIn (23 percent men;17 percent women). Meanwhile the opposite was true of TikTok (49 percent women; 42 percent men), Snapchat (36 percent women; 32 percent men) and Pinterest (35 percent women; 17 percent men). YouTube (65 percent men; 65 percent women) and Instagram (65 percent men; 65 percent women) were more closely tied.
Users tended to lean younger (19 percent 18-29 year olds; 18 percent 30-49 year olds; 9 percent 50-64 year olds). This was also the case with users on Instagram, TikTok and Snapchat. Facebook saw the opposite trend in the U.S. (60 percent 18-29 year olds; 81 percent 30-49 year olds; 84 percent 50-64 year olds). Data was not collected for people under the age of 18.
According to a previous survey by Statista, in an international comparison, the country with the largest Reddit user base by share of regular social media users was the United States, where it is also headquartered. Other countries with a relatively high share of users were Canada, Australia and India.
Find out more about Reddit ahead of its IPO with Statista’s dossier which can be downloaded here.
Texas Realtors releases 2023 Texas Real Estate Year in Review report
Austin, TX – March 12, 2024 (PRNewswire) While Texas home sales declined nearly 11% in 2023, median prices showed only modest movement up or down in most markets, according to the 2023 Texas Real Estate Year in Reviewreport released today by Texas Realtors.
Higher mortgage rates kept some buyers out of the market in 2023, leading to the lowest total sales (327,921) since 2016. The statewide median price of $335,100 moved down 1.4% compared to the previous year, but more metros saw median price increases than decreases.
“While higher mortgage rates kept some buyers on the sidelines last year, that has led to a lot of pent-up demand,” said Jef Conn, chairman of Texas Realtors. “Sales have picked up early this year, and this spring is shaping up to be an active market.”
Median Prices Were Mixed in 2023
Median price declined in 8 metro areas and increased in 17 metros.
All but 5 metros had less than a 5% change (higher or lower) in median price.
The biggest drop in median price (-10.4%) occurred in the Austin-Round Rock MSA. However, at $450,000, Austin-Round Rock remained the highest median price in Texas.
El Paso (7.6%) and McAllen-Edinburg-Mission (6.8%) saw the highest increases in median price.
More Inventory, More Days on Market, and Higher Price Per Square Foot Months of inventory, a statistic that measures how long it would take to sell the homes currently on the market at the current pace of sales, increased from 2.6 months at the end of 2022 to 3.4 months at the end of 2023. Months of inventory climbed in every market except Midland and Odessa, where it shrank by less than one month. Even with slight increases in housing inventory, the need for more housing in Texas remains a concern. Economists at the Texas Real Estate Research Center have said that a market balanced between supply and demand has between 6 and 6.5 months of inventory.
Homes spent more time on the market across the state except for Midland, which stayed flat. Statewide, homes remained on the market an average of 55 days, 20 days more than in 2022.
Price per square foot edged up 0.1% statewide, with increases in every market except Austin-Round Rock and San Antonio-New Braunfels. El Paso and the Rio Grande Valley had the largest increases in price per square foot.
2023 Texas Home Sales Volume vs. Median Price
“Despite headwinds from mortgage rates, Texas real estate sales continued at a healthy pace in 2023,” added Conn. “Market conditions vary by location—even down to the neighborhood level—so it’s always a smart move to work with a Realtor who knows your area.”
About the Texas Real Estate Year in Review Report
Data for the Texas Real Estate Year in Review Report is provided by the Data Relevance Project, a partnership among local Realtor associations and their MLSs, and Texas REALTORS®, with analysis by the Texas Real Estate Research Center. The report provides annual real estate sales data from a statewide perspective and for 25 metropolitan statistical areas in Texas. To view the report in its entirety, visit texasrealestate.com.
About Texas REALTORS®
With more than 150,000 members, Texas REALTORS® is a professional membership organization that represents all aspects of real estate in Texas. We are the advocate for REALTORS® and private property rights in Texas.
New listings are up 21% annually, evidence of rate lock easing
New listings rose annually in every major metro.
Total inventory rose 12% year over year; the largest gains came in the South.
Competition is stiff for attractive listings; homes went pending in just 17 days nationwide.
Seattle, WA – March 14, 2024 (PRNewswire) An infusion of new inventory into the market is welcome news for buyers on the hunt for their next home this spring. It’s also more evidence that the effects of “rate lock” on homeowners are starting to weaken, according to the latest monthly report1 from Zillow®.
“For more than a year, Zillow homeowner surveys have shown an elevated share of homeowners expecting to sell in the next three years. We’re finally beginning to see owners who have been putting off moves return to the market,” said Skylar Olsen, chief economist at Zillow. “For many households with record-high equity, waiting out potentially lower rates later in the year may not be worth it.”
More choices for buyers Buyers are seeing more choices on the market, which should help spur sales this spring.
New listings of existing homes on Zillow are up 21% in February compared to last year, and rose 20% from January. The rising tide of new listings was universal; counts are up annually in each of the 50 largest U.S. metros. They’re coming on strongest in the South, especially Texas and Florida. Substantial new construction in these areas is likely helping to give existing homeowners somewhere to move to, freeing up existing inventory.
Total inventory is increasing significantly as well, up 12% nationally compared to last year. At just over 900,000, there were more homes for sale in February than in any February since 2020. Annual increases are highest in Dallas (up 39%), Tampa (31%), Orlando (30%) and Miami (29%).
Stiff competition for attractive listings Despite February’s supply increase, competition remains strong for attractive, well-priced listings. Homes that went under contract in February typically did so after 17 days — that’s slower than during the rate-fueled frenzy of 2021 and 2022, but far faster than before the pandemic.
Aspirationally priced listings, or those lacking real or virtual curb appeal, are lingering on the market. The average time on Zillow for all homes was 53 days, which is longer than normal for this time of year.
Price cuts are more common than normal — 1 in 5 listings on Zillow are seeing cuts — as sellers bring their expectations closer to where buyers can meet them. Most sellers will have plenty of cushion to absorb a price cut and come out ahead from when they bought their home. Typical home values are up from last year in all but three major metros, and values have risen 41% nationwide since before the pandemic.
Housing costs continue to climb The typical home in the U.S. is worth $349,216, according to the Zillow Home Value Index — up 40.8% compared to before the pandemic. Monthly gains were largest in expensive coastal metros: San Jose (1.6%), San Diego (1.3%), Seattle (1.2%), San Francisco (0.8%) and Washington, D.C. (0.8%).
Change in Days to Pending vs. Pre- Pandemic Average
Share of Listings with a Price Cut
Inventory Change, YoY
New Inventory Change, YoY
United States
$349,216
4.2 %
17
-10
20.1 %
12.0 %
20.8 %
New York, NY
$640,486
7.0 %
26
-31
10.3 %
-14.8 %
3.7 %
Los Angeles, CA
$926,861
8.3 %
14
-6
14.0 %
-3.1 %
18.0 %
Chicago, IL
$307,944
7.3 %
9
-16
16.7 %
-4.5 %
18.1 %
Dallas, TX
$372,660
1.3 %
19
-9
25.9 %
38.8 %
50.7 %
Houston, TX
$303,824
1.2 %
28
2
24.5 %
14.8 %
23.1 %
Washington, DC
$551,667
4.3 %
6
-17
15.4 %
-6.3 %
10.9 %
Philadelphia, PA
$349,795
7.7 %
9
-27
17.6 %
-4.7 %
7.6 %
Miami, FL
$479,826
7.5 %
35
-9
23.8 %
28.6 %
31.8 %
Atlanta, GA
$377,476
4.4 %
22
6
22.6 %
15.5 %
32.1 %
Boston, MA
$668,255
8.8 %
8
-5
10.7 %
-1.1 %
13.5 %
Phoenix, AZ
$453,327
4.0 %
20
-7
32.1 %
-10.8 %
19.0 %
San Francisco, CA
$1,130,166
2.5 %
12
-2
11.7 %
1.9 %
19.2 %
Riverside, CA
$568,817
6.1 %
18
-7
18.7 %
-1.0 %
19.6 %
Detroit, MI
$242,648
6.5 %
11
-11
17.9 %
-3.4 %
16.2 %
Seattle, WA
$721,382
4.4 %
6
-4
13.9 %
-1.0 %
32.2 %
Minneapolis, MN
$363,973
2.0 %
19
-2
15.5 %
22.5 %
40.4 %
San Diego, CA
$930,314
10.8 %
10
-11
16.8 %
8.4 %
22.5 %
Tampa, FL
$377,087
3.6 %
26
2
32.8 %
30.7 %
32.6 %
Denver, CO
$579,917
1.7 %
9
2
21.6 %
9.4 %
19.6 %
Baltimore, MD
$375,866
4.2 %
7
-29
18.8 %
2.1 %
16.3 %
St. Louis, MO
$243,550
6.2 %
7
-16
16.9 %
9.3 %
12.7 %
Orlando, FL
$393,190
4.1 %
24
4
25.2 %
29.5 %
31.3 %
Charlotte, NC
$375,008
4.6 %
13
0
19.7 %
0.1 %
21.6 %
San Antonio, TX
$283,608
-2.5 %
44
4
27.0 %
24.7 %
20.3 %
Portland, OR
$538,452
2.3 %
15
1
19.0 %
14.7 %
22.0 %
Sacramento, CA
$569,580
3.4 %
9
-4
17.3 %
-12.4 %
16.3 %
Pittsburgh, PA
$203,573
5.8 %
12
-40
20.5 %
-0.3 %
11.6 %
Cincinnati, OH
$273,507
6.2 %
5
-13
19.1 %
13.7 %
18.6 %
Austin, TX
$456,293
-5.1 %
40
26
21.3 %
6.5 %
37.1 %
Las Vegas, NV
$415,400
4.6 %
17
-9
18.5 %
-22.5 %
19.0 %
Kansas City, MO
$295,389
5.4 %
6
-13
19.3 %
15.2 %
26.3 %
Columbus, OH
$304,628
6.3 %
5
-3
20.7 %
13.0 %
15.9 %
Indianapolis, IN
$271,674
3.1 %
12
-12
21.8 %
13.4 %
14.0 %
Cleveland, OH
$217,511
7.4 %
9
-40
16.0 %
-5.1 %
3.1 %
San Jose, CA
$1,537,093
8.8 %
9
-4
8.3 %
0.3 %
24.2 %
Nashville, TN
$434,361
1.8 %
21
0
26.5 %
-1.4 %
12.3 %
Virginia Beach, VA
$340,789
6.0 %
24
-46
16.6 %
9.3 %
14.4 %
Providence, RI
$456,902
8.4 %
9
-25
13.2 %
-4.1 %
4.0 %
Jacksonville, FL
$354,250
1.2 %
34
-1
26.8 %
17.9 %
29.8 %
Milwaukee, WI
$330,730
7.5 %
22
12.2 %
11.7 %
12.6 %
Oklahoma City, OK
$229,838
3.6 %
19
-50
23.6 %
28.4 %
28.0 %
Raleigh, NC
$437,580
3.0 %
11
3
23.8 %
4.4 %
18.0 %
Memphis, TN
$235,883
1.4 %
31
-10
22.0 %
28.5 %
24.6 %
Richmond, VA
$357,211
5.4 %
7
-7
17.8 %
9.1 %
16.4 %
Louisville, KY
$248,361
4.4 %
9
-14
22.9 %
11.9 %
13.9 %
New Orleans, LA
$235,804
-7.5 %
42
4
22.2 %
23.2 %
20.5 %
Salt Lake City, UT
$533,750
1.6 %
15
3
20.7 %
0.0 %
25.5 %
Hartford, CT
$343,635
12.5 %
6
-27
11.2 %
2.1 %
5.5 %
Buffalo, NY
$246,490
7.5 %
11
-17
11.9 %
-9.1 %
1.6 %
Birmingham, AL
$247,914
1.3 %
14
-5
19.7 %
10.5 %
14.9 %
*Table ordered by market size
About Zillow Group: Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in the United States, Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, dedicated partners and agents, and easier buying, selling, financing and renting experiences.
Zillow Group’s affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans℠, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+℠, Spruce® and Follow Up Boss®.
1 The Zillow® Real Estate Market Report is a monthly overview of the national and local real estate markets. The reports are compiled by Zillow Research. For more information, visit www.zillow.com/research.
