The National Association of Realtors(NAR) and Google has released a joint study called, “The Digital House Hunt: Consumer and Market Trends in Real Estate”. The study objective was to better understand the evolving role of digital media in the consumer home search process. Google and NAR collaborated to uncover trends and insights around digital media usage among home shoppers, whether they were looking for an existing home, a newly constructed home, or an apartment. Together, Google and NAR’s individual research results tell a cohesive story about today’s uber-connected home shopper.
I am a statistic based kind of guy. I have been quoting the fact we know the majority of real estate website visitors just want to search for a house. So having a simple search function above the fold for this group is a great thing. And today I read in the NAR/Google report that 90% of home buyers searched online during their home buying process. And in fact, real estate searches on Google has increased 253% over the past 4 years.
Home owners and home buyers have been reprogrammed with a search engine mentality when searching for homes. The study says shoppers will perform an average of 11 searches prior to taking action on a real estate website.
The study also showed 69% of home buyers who take action on a real estate website begin their research with a local search term, i.e. “Seattle homes for sale”. I also read 52% of hits come directly from s local search engine.
To download this NAR/Google real estate report please follow this link.