DATA NUGGET
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July 10, 2000
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House Hunters Flock to the Net
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While most home buyers still consult a real estate agent and local newspapers when looking for a house, the Internet is becoming an increasingly popular resource. In its biennial survey of home buyers and sellers, the National Association of Realtors found that more than a third used the Web during their search, not only to view real estate listings but also to get information on neighborhoods, such as proximity to shopping and schools. Home buyers who used the Internet tended to be younger and earned slightly more than average, and they purchased more expensive homes. The typical Internet user was married, 36 years old, and earned $69,900. By comparison, the home buyer who used only traditional information sources was married, 41 years old, and earned $55,800. The former bought a house that averaged $173,199, the latter one that averaged $144,280.
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| Information sources for a home search :
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| | 1995 | 1997 | 1999 |
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| Real estate agent | 86% | 82% | 80% |
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| Newspaper ad | 51 | 51 | 43 |
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| Internet | 2 | 18 | 37 |
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| Yard sign | 37 | 38 | 36 |
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| Open house | 41 | 38 | 28 |
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| DATA: National Association of Realtors
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