Radio Poised To Benefit From Real Estate Ad Spending, Finds Borrell
October 20, 2016 at 5:00 AM (PT)
In a new report from BORRELL ASSOCIATES, the research company sees a positive trend for radio in the $25.9 Billion real estate advertising catagory.
The report found In 2015, "real estate agents, brokers and developers were the first to start trimming their digital advertising. This trend has continued in 2016." It also noted that, "since 2015, digital media as a share of total advertising expenditures has remained at 83% for agents and brokers and 70% for developers."
The highlights of the new data:
- In 2016, Real Estate Advertising will be a $25.9 billion category
- It’s down 6.3%, due mainly to 6% drop in home sales from 2015
- Advertising around existing & new residential homes is down 13.7%
- Millennials are partially responsible, opting to rent instead of buy
- Mortgage advertising is a bright spot, up 7.3%
- Digital ads are still favored heavily, but being cut 8.5% this year
- Marketing-dial adjustments slightly favoring print, cable, & radio