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Online insights from Bill Tancer

Bill Tancer is the general manager of global research at Hitwise and a weekly columnist for Time Magazine.

For information on Bill's upcoming book "Click", visit the following booksellers: Amazon, Barnes and Noble, Borders, or BookSense.

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Housing Market and Search Data

June 24, 2008 1:36 PM

Negative news continues to mount as Standard & Poor's/Case-Shiller April home price index released today indicates that home prices have dropped more than 15 percent in 20 major metropolitan areas, bringing housing prices to summer 2004 levels.

Have housing prices reached a level where buyers may be willing to enter the market to capatilize on these new lows? In the past, based on the theory that Internet research as become integral in home purchases, we've looked to searches such as "homes for sale," and "apartments for rent" to understand the state of buyer demand.

As of last week, even as home prices continue to fall, Internet user interest in buying real estate (measured by the interplay between these two search queries) continues to be low, possibly signaling that prices have yet to reach bottom.

If you would like more insights into our Internet and search behavior analysis, you can read the first chapter of my book, "Click: What Millions of People Do Online and Why it Matters," by clicking here.

June 24, 2008 | Permalink | User Comments (1)

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