Real estate Web Sites draw window shoppers

CHICAGO – Nov. 20, 2008 – Some people go to real estate Web sites because they want to buy a home, but just as many go there just to see how much property is worth, according to a study conduct by Move Inc.

The study concluded that 62 percent of consumers are just checking out home values when they peruse a real estate Web site.

The study found that 82 percent believe that the availability of mortgages is a serious problem keeping potential home buyers in the sidelines, and 50 percent said they believe President-Elect Barack Obama should make assistance for troubled home owners a priority during his first days in office.

About 23 percent say he should do that by increasing the supply of mortgage credit, and 16 percent say he should set up a program to assist first-time home buyers.

Of the 37 percent of respondents who said they would like to buy a home, 41 percent said economic conditions have prevented them from making the move.

Nearly five percent of respondents plan to buy a home in the next 12 months, with an additional 18 percent planning to purchase a home in one to five years.

Source: Inman News (11/12/08)

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