Industry News

Online market grows for real estate advertising

Newspapers still top recipient for real estate ad spending

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Online real estate advertising grew from a $1.2 billion market in 2004 to a $1.7 billion market last year, increasing its share of total real estate ad spending from 10.3 percent to 14.7 percent in that time, according to an annual report produced by a research and consulting company. By 2010, online real estate ad spending is expected to grow to a $3.1 billion market, representing an estimated 32.1 percent of total real estate ad spending. Meanwhile, newspaper real estate advertising is projected to shrink from a $4.7 billion business in 2005 to $2.9 billion in 2010, and to fall behind online real estate ads in total market share, Portsmouth, Va.-based Borrell Associates reported in "2006 Update: Online Real Estate Advertising." The report suggests a continuing and rapid migration of real estate ad spending from print media to online media. "The Internet and related technologies have substantially lowered the overall cost of reaching potential home buyers. The same promotional reach ...