While these are US stats, the message translated to Canadian is the same…. Have you increased your online presence?
A new collaborative report by Google and the National Association of Realtors (NAR) has uncovered some interesting trends and insights into the ways digital media is used in the home buying process.
One of the most eye-catching statistics included in the report is that 90 percent of American homebuyers used online resources while searching for a new home.
The data, collected by Google and the NAR through a variety of surveys conducted during 2011 and 2012, also pointed to some intriguing trends related to the digital realm’s effect on the homebuying experience. Check out some highlights from the report below…
- Real estate related Google searches have grown 253 percent over the past four years.
- Shoppers will perform an average of 11 searches prior to taking action on a real estate site.
- 69 percent of home shoppers who take action on a real estate brand website begin their research with a local term (eg. Houston homes for sale) on a search engine.
- Mobile applications are used by 68 percent of new home shoppers at the onset and throughout their research.
- Where do new home shoppers use their mobile devices? Here’s the breakdown: 77 percent at home, 31 percent at work, 28 percent when waiting in line, 27 percent at restaurant and 26 percent at other peoples’ homes.
- YouTube is the top video research destination for home shoppers.
- 78 percent of new home shoppers visit three or more sites prior to taking action on a real estate site.
- 31 percent of home shoppers who take action on a real estate site are aged 25 to 34.
- 52 percent of first time buyers started their search online.
- 77 percent of first time buyers drove by a home viewed online.