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Online Home & Mortgage Searches Shows Slight Improvement
Bofish Marketing Inc. research on Home and Mortgage keywords searches on major search engines for Southeast Wisconsin showed the May-June time period improved slightly from April-May. May-June results showed an estimated increase of 7% for home/realtor searches and 4% for mortgage searches. The total amount of major search engine searches exceeded 88,000 which reflected the active market as report by the Milwaukee Journal Sentinel on June 14.
The increase in Home/Realtor searches had conflicting results compared to recent trends for home builders and realtors. Recent reports of new home construction is still on a decline, however searches for home builders increased approximately 15% over the last month. Realtor searches declined 32% in the same time period, confirming reports of a slow home sale market. This could be an indication the new home construction market might be on a possible up swing as consumers explore building homes rather then purchasing existing homes. Realtor searches fell drastically even though home listings increased on MLS website at the end of May.
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