Home Buyers Do Their Research on the Internet

The San Diego Business Journal reports on consumers using the web for their home search.

http://www.builderonline.com/industry-news.asp?sectionID=26&articleID=302831

Here are a few key findings:

* Home buyers who used the Internet as a key part of the process grew from 56 percent in 2004 to 62 percent in 2005. * Internet home buyers devoted more time to research then move quickly, spending just two weeks looking for a home with an agent, and viewing only 6.2 homes. Traditional buyers spend 7 weeks viewing 14.5 homes.

* First-time and repeat buyers were somewhat alike in their use of the Internet to find an agent or a firm, or to learn about specific homes.

* First-time buyers were more likely to use the Internet to get information about home financing and to narrow their search for a given home, while repeat buyers were more likely to use the Internet to obtain specific information about neighborhoods where they were buying a home.