Internet Real Estate Spending to Double By 2010
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Spending on real estate advertising is slowly migrating to the internet. Instead of putting advertisements in local and regional newspapers, the money is being invested into the online world. Experts estimate that 80 percent of buyers research on the internet which dwarfs newspaper research.
According to a new report released by Borrell Associates, spending on online real estate ads, which occupies only 17.7% of current total online ad spending, will soar to 32.1% in 2010. The “2006 Update: Online Real Estate Advertising” reports that online real estate ad spending has risen less than 4% since 2001. And while the number of homes on the market has increased by almost 41% over the past year, real estate ad spending across all forms of media has remained almost constant at $11.6 billion.
The combination of a saturated home sales market with the decline in print classified ads will cause online real estate ad spending to grow to about $1.7 billion this year, and it will reach about $3 billion in 2010. While spending on online real estate ads increases, the report predicts that the total real estate ad spending will actually drop to about $9.5 billion. via Adotas
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