In a joint study carried out by the National Association of Realtors in the United States and Google, statistics have revealed that the number of real estate internet searches has grown by a substantial 253% since 2008.
Advancements in technology in recent years have provided users with the ability to access a host of information at the touch of a button. What was once a monotonous task of trawling through newspapers is now quick and easy, particularly when it comes to real estate.
Not only has the study revealed that there is clearly a huge interest in real estate in the US but also that specific search phrases, such as 'FHA' (Federal Housing Administration), 'home buyer assistance' and 'home loans', have allowed analysts to gain an insight into the demographic carrying out the searches.
In this instance, although the search phrases suggest the possibility that the potential buyers have financial hardships, they also serve to highlight the interest from first-time buyers who are looking to invest in their future. This information supports suggestions that the economy, and subsequently the housing market, is experiencing growth.
The statistics compiled also enabled the NAR to uncover the states that have received the most searches and online queries, with Delaware currently proving to be the most popular.
Separate data gathered has provided information on the requirements most commonly searched for, which include the number of bedrooms and bathrooms, access to a garage, and square footage.
The information provided through the studies affirms evidence that the US property market is becoming increasingly stable and that many people, and first-time buyers in particular, are choosing to invest in property while prices remain low but are predicted to gain value.
