The Condominium Market & the Internet

Larger and more diverse segments of the population are discovering that the Internet has an ocean of information, and home buyers are taking advantage of websites like New Condos Online every day. Below are some important facts pertaining to the positive impact of technology on the real estate industry:

Home buyers who used the Internet as a key part of the process grew from 73 percent in 2004 to 77 percent in 2005. Some 73 percent of builders surveyed say they have a Web site; and most builders also use mass media advertising and new home listings on third-party web sites like New Condos Online to drive traffic to their sites.

Internet condo buyers devote more time to research before working with a real estate agent. But after that, they move quickly, spending just two weeks looking for a new condo, condo conversion, pre-construction condo townhome, or loft with an agent, and view only a few homes. Information from the Internet has complemented - not diminished - the role played by real estate professionals, as four out of five Internet condo, townhome, loft, or single family home buyers used an agent in the home buying process.

First-time condo buyers are more likely to use the Internet to get information about home financing and to narrow their search for a given condo, townhome, or loft, while repeat condo buyers are more likely to use the Internet to obtain specific information about neighborhoods where they were buying a home. Home buyers chose Internet listing services and the home builder's web sites as their top two choices when asked which one information source they would use to start their own next new home buying search.

As the largest and most visited new condo advertising website in the country, New Condos Online provides the premier resource for home buyers and investors looking for new real estate opportunities. New Condo developments are being built in metropolitan markets across the United States. Look for your new condo, condo conversion, townhome, or loft on New Condos Online today!