This report describes the changes among consumers in the real estate market, driven in part by the slowdown in the demand of housing, as well as by the influence that the Internet has on the real estate marketplace. It examines the homebuying process between buyers who use the Internet vs. buyers who do not.
Key Findings of this survey include:
- The share of Internet buyers has grown from 28 percent in 2000 to 72 percent in 2007, while the share of traditional buyers declined from 72 percent in 2000 to 28 percent in 2007.
- Only 12 percent of all home buyers looked at newspaper/magazine ads to search for a home, while more than seven of ten home buyers used the Internet as a significant part of the home buying and selection process.
- Internet buyers were pleased with their experience of using the Internet during the home buying process, as 98 percent expressed above average levels of satisfaction.
Please Note: Each report contains data from the previous year. A 2007-2008 report for example uses 2007 data.