Sunshine states searched most by consumers interested in real estate
CAMPBELL, CA (January 11, 2011) – While many real estate markets in 2010 experienced extraordinary highs and lows in response to tax credits, low interest rates and price swings, consumer interest in real estate remained consistent. Las Vegas and Los Angeles came in as the first and second most searched markets every month in 2010, while Orlando, San Antonio and Miami vied as the third, fourth and fifth most searched cities respectively. Phoenix, San Diego, Austin, Chicago and Tampa held the sixth through 10th positions respectively as the most searched markets in 2010.
The top 10 most searched real estate markets in 2010 were established based on the number of visitors that viewed properties in each Metro Service Area (MSA) in the United States from January 2010 to December 2010 on Realtor.com, the No. 1 homes for sale web site operated by Move, Inc., (NASDAQ:MOVE), the leader in online real estate. Realtor.com was the No. 1 most visited real estate web site in 2010 in the online real estate web site category.
In early 2010, home sales and prices rose throughout the country faster than they had for several years. This was largely in response to the Federal home buyer tax credit for first-time and repeat buyers. After the Federal home buyer tax credit expired at the end of April 2010, sales dipped throughout the country in summer and fall 2010 — even though mortgage rates remained low and dropped below 4 percent in the fall. List prices continued to fluctuate in response to sales and foreclosures trends throughout 2010.
Despite changing market conditions in 2010, the nation’s top search destinations remained remarkably stable and focused on the sunshine states of California, Nevada, Florida, Texas and Arizona.
“Online search is a critical measure of interest in real estate, especially now that more than 90 percent of buyers search for their homes online ,” said Realtor.com President, Errol Samuelson. “As the number one homes for sale web site, searches on Realtor.com show us where the highest potential for activity is across the country. Changing conditions throughout 2010 in the sunshine states resulting from foreclosures, the tax credit, interest rates and other factors created more interest in real estate compared to other states that we hope leads to increased activity and sales in 2011.”
The top 10 most searched real estate markets in the United States in 2010 each month were:
|1||Las Vegas||Las Vegas||Las Vegas||Las Vegas||Las Vegas||Las Vegas|
|2||Los Angeles||Los Angeles||Los Angeles||Los Angeles||Los Angeles||Los Angeles|
|3||Orlando||Orlando||San Antonio||San Antonio||Orlando||San Antonio|
|4||San Antonio||San Antonio||Orlando||Orlando||San Antonio||Orlando|
|6||Miami||Miami||Miami||Paradise Valley||Phoenix||San Diego|
|7||San Diego||San Diego||Chicago||Miami||San Diego||Phoenix|
|8||Tampa||Tampa||San Diego||San Diego||Austin||Austin|
|10||Fort Worth||Fort Worth||Fort Worth||Fort Worth||Beverly Hills||Chicago|
|1||Los Angeles||Las Vegas||Las Vegas||Las Vegas||Los Angeles||Las Vegas|
|2||Las Vegas||Los Angeles||Los Angeles||Los Angeles||Las Vegas||Los Angeles|
|4||San Antonio||Miami||San Antonio||Austin||San Antonio||Phoenix|
|5||Orlando||San Antonio||Miami||Beverly Hills||Miami||San Antonio|
|7||Atlanta||Phoenix||Beverly Hills||San Antonio||Atlanta||Tampa|
|8||San Diego||San Diego||San Diego||Phoenix||Tamp||Atlanta|
Each month, Realtor.com displays for sale and for rent properties fed to it from more than 933 multiple listing services (MLSs) across the country. Properties listed on Realtor.com include single family homes, condos, townhomes, co-ops, mobile and manufactured homes, multi-family homes, farms and undeveloped land. Approximately 75 percent of all property listings on Realtor.com are updated every 15 minutes to provide consumers with the most up to date information on price changes, property status changes, sold price information and more. The remaining properties updated every six to 24 hours.
ABOUT MOVE, INC.
Move, Inc. (Nasdaq: MOVE) is the leader in online real estate with 11.6 million monthly visitors to its online network of web sites. Move, Inc. operates: Move.com, a leading destination for information on new homes and rental listings, moving, home and garden and home finance; Realtor.com(R), the official web site of the National Association of Realtors(R); Moving.com; SeniorHousingNet; Top Producer Systems, and ListHub. Move, Inc. is based in Campbell, California.
Realtor.com®, where the world shops for real estate online, is operated by Move, Inc., (NASDAQ:MOVE) and is the official web site of the National Association of Realtors®. Ranked as the No. 1 homes-for-sale site, Realtor.com® currently offers potential home buyers access to over four million property listings, as well as the most brokers and agents. It also provides Realtors® and the home sellers they represent with the Internet’s largest real estate marketplace, reaching more than 9.984 million consumers in October 2010. Agents and companies have the power to customize Realtor.com® resources to maximize their brand and productivity.
This press release may contain forward-looking statements, including information about management’s view of Move’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
Contact: Julie Reynolds Move, Inc., 818.264.5594 / Julie.firstname.lastname@example.org
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