Originally Posted By: gromicko
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(October 24) – According to the CALIFORNIA ASSOCIATION OF REALTORS?’’ “Internet Versus Traditional Buyers Survey,” the number of Web-based homebuyers rose from 28 percent in 2000 to 45 percent this year. The research reveals that Internet buyers are younger and wealthier than their traditional counterparts, and they purchase higher-priced dwellings. In fact, the median price of homes purchased by Internet buyers was $462,200 this year, versus $350,000 for traditional buyers. The poll also found that online buyers spend more time doing research before hiring an agent than traditional buyers–4.4 weeks versus 1.7 weeks–but they look at fewer homes and make their purchases more quickly. “The Internet has become an increasingly important tool for homebuyers in recent years, and it continues to change the way homebuyers interact with REALTORS?,” observes CAR President Toby Bradley.
Source: Inman News Features (10/23/03)