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Online Home & Mortgage Searches Shows Slight Improvement

Bofish Marketing Inc. research on Home and Mortgage keywords searches on major search engines for Southeast Wisconsin showed the May-June time period improved slightly from April-May. May-June results showed an estimated increase of 7% for home/realtor searches and 4% for mortgage searches. The total amount of major search engine searches exceeded 88,000 which reflected the active market as report by the Milwaukee Journal Sentinel on June 14.

The increase in Home/Realtor searches had conflicting results compared to recent trends for home builders and realtors. Recent reports of new home construction is still on a decline, however searches for home builders increased approximately 15% over the last month. Realtor searches declined 32% in the same time period, confirming reports of a slow home sale market. This could be an indication the new home construction market might be on a possible up swing as consumers explore building homes rather then purchasing existing homes. Realtor searches fell drastically even though home listings increased on MLS website at the end of May.

The number of realtors or real estate agencies advertising on the search engines continues to be scarce and does not meet the market needs of online searches. Using the common keyword term of “Home for Sale Milwaukee” revealed only 7 realtors and 3 local or regional real estate agencies for both Google and Yahoo. This search also showed realtors from Illinois and Madison areas advertising in the Milwaukee markets. Online realtor directories or aggregators were the most common listings found which gives consumers a choice of number of competing realtors and agencies.

Mortgage searches in Southeast Wisconsin rose 4% within the last 30 days. According to the Mortgage Banker Association report on June 7, this could be the start of loans with adjustable mortgage rates coming up on the first reset over the next few years and homeowners maybe looking to refinance into fixed rate mortgages.

Mortgage Companies are slightly more active than there Real Estate counterparts with 12 local agents/agencies listed on Google and Yahoo under the keyword term “Mortgage Milwaukee”. There was one Chicago agent listed and several mortgage directories listed for local consumers to chose from.

There is definitely room for improvement from the local realtor and mortgage businesses. Any business getting in now will be rewarded with plenty of opportunities for local internet savvy consumers. For now, Milwaukee search engine market is dominated by national directories, aggregators and dotcom websites.

About Bofish Marketing Inc.

Bofish Marketing Inc., was founded by Tom Mitchell, President/CEO, who has over 10 years of experience in Internet Marketing, Advertising and Research Industry. Bofish Marketing Inc. is the marketing arm of Bo-Fish Bowling News Inc. established in September 1998. Bofish Marketing Inc. was restructured as a separate division in February 2006 to accommodate expansion into additional online research and marketing services capable of covering local, state and national campaigns.

For questions, inquiries or to order your copy of your industry research or companies search engine ranking report, please call (414) 807-0829 or email tom.mitchell@bofish.net.

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