Social networking sites and websites hosting forums grew their market share by nearly 62 percent during the year ending in May — the largest gain among any real estate-related category, according to a new quarterly report from online metrics firm Hitwise.

Visits to websites in the real estate category during May were down 24.3 percent from a year ago — the 12th consecutive month of year-over-year traffic declines dating to June 2009, the report said.

Hitwise’s quarterly US Online Media Round-up showed rental sites featuring homes and apartments grew their market share by 24.9 percent during the same period.

In a webinar last month discussing findings through April (see charts above), Hitwise’s director of research theorized that the rental market for houses and apartments is benefiting from tightened credit markets and increased foreclosures (see story).

Although the federal homebuyer tax credit sparked interest in searches related to home purchases, the use of search terms related to rentals has grown at a faster pace.

During the first three months of 2010, Hitwise said, searches for "houses for sale" increased 32 percent from a year ago. Searches for "homes for sale in Florida" were up 73 percent, and "homes for sale in Michigan" up 74 percent.

Searches around the rental market, such as "houses for rent" and "homes for rent," were up 171 percent.

Interest in house and apartment rental sites was particularly elevated in Atlanta, Detroit, Orlando, Tampa, and Greenwood-Greenville, Miss., the report said.

***

What’s your opinion? Leave your comments below or send a letter to the editor.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription