Borrell Associates has published a new report on real estate advertising. This has been, historically, one of the most important ad sectors for local newspaper revenues and things may be looking up a bit. According the the report summary:
This ad category declined 20% last year, from $24.4 billion to $19.6 billion. We’re forecasting a mild bounce back in 2010 at 3% growth.
Surprisingly, Borrell predicts print real estate advertising will grow 16%, “due in large part to spending by government agencies and banks to promote the sale of distressed properties.” Broadcast TV gets the more optimistic forecast: up 39%. And real estate advertising online, overall, is expected to decline 4%, with directories down 14%.
As Kirk Lapointe observed at mediamanager.com, “(It’s) hardly a renewal, but the end of a freefall.” The report is expensive ($995), but there is also a $75 webinar scheduled for Feb. 4 on the results. More details here.
