If spring’s the time for cleaning, summer’s the time for home improvement. Every summer, people begin to think about updating and upgrading their living situation, whether it’s through renovations, remodeling, or purchases. During these warmer and brighter months, people line up to get into open houses, sample flooring and bathroom tiles, and get in the mood for spending money to upgrade their home. This is especially true this year, with rumors of rising interest rates sending consumers rushing to get their finances in order while the rates are still favorable.
Summer Surge Versus Winter Slump
We looked at a narrow cut of real estate and home improvement advertisers to understand how summer impacts consumer behavior. There are obvious patterns of consumer interest during the summer months (June to August) that drop during the winter. Click-through rates for home improvement search ads go up almost 15% during the summer when compared to the winter months, signaling an increased interest in home improvement topics. Conversion rates also trend 37% higher during the summer. While we saw a brief spike during late December and early January, this is presumably for the holiday season, as people look for deals and make plans to change things for the New Year (and which doesn’t offset the general trend of summer home improvement).
Competition Also Heats Up in the Summer
Unsurprisingly, real estate and home improvement advertisers are aware of the summer effect. Competitiveness peaks during the summer months, with search CPCs jumping 4% before falling back again during the winter – when consumers aren’t quite as eager to paint the outside of their house or spend time remodeling.
If you’re looking to slap a fresh coat of paint on your digital marketing strategy, it’s always good to begin by understanding where your audience is and when they’re engaging. For marketers looking for potential home buyers or renovators, be sure to take advantage of the summer months, when people are splurging on new shelves or looking for a new place to call home.