News

Newspaper real estate ads falling in favor of online

by Ed Sutherland

Real estate ads bring newspapers $5.16 billion, 30 percent of all classified newspaper ad revenue.

According to the AP, as much as 20 percent of real estate ads are now online, a trend on track to match the 30 percent of help-wanted classified advertising advertising already lost to the Internet.

In the first-quarter of 2007, real estate firms cut newspaper advertising 14 percent -- and even more during the second quarter, according to Bloomberg.

A Prudential Real Estate spokeswoman summed up the future of newspaper advertising. "Is newspaper a high priority? No. I don't believe my buyers and sellers are going to be in that market," Suzy Antal, of Prudential Real Estate Affiliates, told the AP.