Consumer Search Trends Show Increased Interest in Real Estate by Potential Home Buyers
24 Novembro 2008 - 6:00PM
PR Newswire (US)
Page Views and Time-on-Site on Realtor.com(R) Outpace Real Estate
Category Trends LOS ANGELES, Nov. 24 /PRNewswire-FirstCall/ -- In
the midst of one of the most challenging housing markets in recent
history, the October comScore Media Metrics report[1] shows
visitors on Realtor.com(R) are spending more time and viewing more
pages as they closely track the pulse of the real estate market.
Realtor.com, the official website of the National Association of
Realtors, is operated by Move, Inc. "We're encouraged to see
continued increases in page views and the time our users invest on
Realtor.com as they search for real estate," says Realtor.com
President, Errol Samuelson. "This trend confirms earlier findings
from our recent survey indicating a pent up demand for real estate
with markets like Stockton-Lodi, CA, Fort Myers-Cape Coral, FL, Las
Vegas, NV and Detroit, MI experiencing the greatest year-over-year
increases in searches by consumers." Based on historical comScore
data, Realtor.com continues to be the most popular real estate
website with engagement statistics unmatched by competitors in the
category. Consumer traffic increased on the site by 31%
year-over-year and by 35% month-to-month as more users visited
Realtor.com than any other real estate site in October. Visitors
viewed 14% more pages on Realtor.com compared to the same month
last year. They spent 460% more minutes on the site compared to the
closest competitor, for an 11% year-over-year increase in minutes,
as time spent on the entire online real estate category declined by
-8%.[1] Lorna Borenstein, President of Move, Inc. adds, "In today's
market, consumers need trustworthy, timely and comprehensive
information as they contemplate making a significant investment in
real estate. To that end, we continue to develop real estate search
tools and resources that deliver the right information at the right
time." Borenstein points out that over the past year, the number of
users saving a search or listing has doubled and registrations have
increased by 50%. Also impressive, when visitors to the category
leader were offered the opportunity to opt in to receive marketing
offers and other communications, they now do so 10 times more often
than they did a year ago. In addition to gains in engagement on
Realtor.com, Move.com achieved double digit month-over-month
increases in unique users (+12%), visits (+21%) and minutes
(+14%).[1] "This success clearly extends our leadership position,
confirming Move and our network of real estate websites are on
track in the midst of an extremely challenging market. We expect to
be well positioned to broaden our lead as the market rebounds,"
Borenstein says. Realtor.com Searches Surge in Key Markets Based on
consumer search trends, real estate search is picking up in the
markets hit hardest by the recent economic conditions, indicating
renewed consumer interest in these areas. Local markets with the
greatest year-over-year increases in October searches on
Realtor.com included Stockton-Lodi, CA (67.4%), Fort Myers-Cape
Coral, FL (57%), Riverside-San Bernardino, CA (44.9%), Naples, FL
(42.7%), Las Vegas, NV (40.7%), Miami, FL (35.4%) and Oakland, CA
(30%). Click http://marketing.realtor.com/octobersearch/ for the
full list. In a survey conducted last month[2], more than two
thirds of identified home buyers said they've held off buying a
home because of the overall economic condition. However,
approximately five percent of consumers said they plan to buy a
home in the next 12 months, about three times the percentage that
actually bought this year,[3] and another 17.7% plan to buy a home
in one to five years from now. "While today's challenging housing
market has affected many, search activity on Realtor.com and
findings from recent surveys tell us the desire for homeownership
is alive and strong," said Errol Samuelson, President of
Realtor.com. Realtor.com Offers Freshest Home Listing Information
To provide the most up-to-date listing information to Realtor.com
visitors, Move is working closely with local multiple listing
services (MLS) to update Realtor.com every 15 minutes with the
newest homes-for-sale and home data updates. Currently, half of all
the listings on the site are updated every 15 minutes. "No other
site has so many listings updated as frequently. Combined with the
full array of tools, resources and connections to local
Realtors(R), we're confident consumers searching for properties on
Realtor.com will be better prepared and more successful in finding
the homes they want," said Samuelson. Additionally, Realtor.com is
partnering to receive the most accurate, timely and detailed
information about recently sold properties directly from MLS. There
are now nine MLS's, representing more than 150,000 members,
providing sold data directly to Realtor.com. As a result, consumers
can access actual sales prices for a growing list of key housing
markets within 24 hours of a sale's closing, review property
details and photos, and find the transaction's listing and buyer's
agents. As a public company and category leader, Move, Inc. uses
public, panel-based reporting services when stating traffic counts
so they can be verified. Move supports the practice of public
attribution of sources when quoting data from reports, polls, and
surveys in order to offer the transparency and clarity real estate
professionals and consumers need when searching for a trustworthy
online source of information. ABOUT REALTOR.COM(R) REALTOR.com(R),
where the world shops for real estate online, is operated by Move,
Inc., (NASDAQ:MOVE) and is the official website of the National
Association of REALTORS(R). Ranked as the #1 homes-for-sale site,
REALTOR.com(R) currently offers potential home buyers access to
over four million property listings, as well as the most brokers
and agents. It also provides REALTORS(R) and the home sellers they
represent with the Internet's largest real estate marketplace,
reaching more than 6.6 million consumers in October 2008[1]. Agents
and companies have the power to customize REALTOR.com(R) resources
to maximize their brand and productivity. REALTOR(R) and
REALTOR.com(R) are registered trademarks of the NATIONAL
ASSOCIATION OF REALTORS(R). REALTOR(R) is a federally registered
collective membership mark, which identifies a real estate
professional who is a Member of the NATIONAL ASSOCIATION OF
REALTORS(R) and subscribes to its strict Code of Ethics. All other
trademarks appearing above are the property of Move, Inc., or of
their other respective owners ABOUT MOVE, INC. Move, Inc.
(NASDAQ:MOVE) is the leader in online real estate with 8.8
million[1] monthly visitors to its online network of websites.
Move, Inc. operates: Move.com(R), a leading destination for
information on new homes and rental listings, moving, home and
garden and home finance; REALTOR.com(R), the official website of
the National Association of REALTORS(R); Welcome Wagon(R);
Moving.com; SeniorHousingNet(TM); and TOP PRODUCER(R) Systems.
Move, Inc. is based in Westlake Village, California. For more
information: http://www.move.com/. [1] comScore Media Metrix,
October 2008 [2] GK Custom Research North America Survey,
commissioned by Move, Inc., October 2008 [3] National Association
of Realtors This press release may contain forward-looking
statements, including information about management's view of Move's
future expectations, plans and prospects, within the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. These statements involve known and unknown risks,
uncertainties and other factors which may cause the results of
Move, its subsidiaries, divisions and concepts to be materially
different than those expressed or implied in such statements. These
risk factors and others are included from time to time in documents
Move files with the Securities and Exchange Commission, including
but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other
unknown or unpredictable factors also could have material adverse
effects on Move's future results. The forward-looking statements
included in this press release are made only as of the date hereof.
Move cannot guarantee future results, levels of activity,
performance or achievements. Accordingly, you should not place
undue reliance on these forward-looking statements. Finally, Move
expressly disclaims any intent or obligation to update any
forward-looking statements to reflect subsequent events or
circumstances. (Logo:
http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO)
http://www.newscom.com/cgi-bin/prnh/20080213/MOVEINCLOGO
http://photoarchive.ap.org/ DATASOURCE: Move, Inc. CONTACT: Julie
Reynolds of Move, Inc. +1-805-557-3080, Web Site:
http://www.move.com/ http://www.realtor.com/
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