Industry News

Seniors flock online to find homes, survey says

Nearly half use Web in buying process

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Nearly half of all seniors use the Internet as part of the home-buying process, and most senior home buyers stay in their home state, according to a research report from the Senior Advantage Real Estate Council released today. The "Moving Forward: 50 and Beyond" survey, conducted in September 2005, explores the buying trends of U.S. consumers 50 or more years of age who purchased a home within the last six months. The survey discovered key differences in behaviors between "younger" seniors, those 50 to 64 years of age, and "older" seniors, those 65 or more years of age. According to the study, nearly two-thirds (61 percent) of home buyers utilizing the Internet did so to locate a specific Realtor, 92 percent utilized the Internet to research comparable prices, and 19 percent went online to learn about specific neighborhoods. "While the prospect of retirement is an exciting time for most seniors, many have not planned for the economic issues that arise as a result," said Dr. Nat...