RentPath's Record 3.1 Million Leads Points to Continued Strength in Demand for Apartment Housing in 2015
ATLANTA, April 9, 2015 /PRNewswire/ -- Demand for apartment housing continued to grow in the first quarter of 2015, according to RentPath data, which revealed a record 3.1 million leads delivered through its network of industry-leading apartment websites in March.
"We've never seen lead growth this aggressive in the history of RentPath," says Scott Asher, vice president of marketing and operations for RentPath, parent company of Apartment Guide, Rent.com, Rentals.com and Lovely. "As March is just the beginning of the leasing season, the record number of leads we delivered is a good indication that the hot apartment market isn't going to cool down anytime soon."
The 3.1-million-lead-record for RentPath's network of sites was approximately 100,000 leads greater than its previous record of 3 million, which the company set in July 2014. It also represents a 30 percent increase in leads year over year compared with March of 2014, including a 75 percent year-over-year increase in mobile leads.
"Unlike other metrics used to gauge demand, leads aren't based on surveys; they're based on actual consumer behavior," Asher says. "To be counted as a lead, a prospective renter must fill out a contact form on our websites or connect with a representative of the apartment community via the phone. We expect to deliver a large quantity of leads during the heat of the leasing season in May, June and July, like we did last year. But the upward trajectory of demand for apartment housing, even through the winter months this season, has been astounding."
During the first quarter of 2015, the RentPath network of sites delivered a total of 8.4 million leads. January's total of 2.6 million leads was a 35 percent year-over-year increase, while February's total of 2.7 million leads equated to a 31 percent year-over-year increase.
But leads weren't the only metric on the rise. The RentPath network also experienced significant increases in unique visitors during the two traditionally slow leasing months. According to comScore, the sites experienced a 24 percent year-over year increase in January, which equated to 9 million unique visitors. In February, RentPath received an even larger year-over-year jump of nearly 35 percent in unique visitors to 8.6 million.
The vast majority of the unique visitors and leads came from Google searches, where RentPath owns 47% of the organic click share, according to Hitwise, because of its emphasis on search engine optimization.
"Our extensive data analysis continues to show that today's prospective renters turn to Google first when they look for their next apartment home," Asher says. "And those searches have grown substantially year-over-year during the first quarter of 2015, further emphasizing that demand for apartment housing will continue to be strong throughout 2015."
About RentPath
RentPath, a leading digital media company, has a long-standing heritage in the real estate industry to empower millions of people nationwide to find apartments and houses for rent. RentPath's category-leading brands include Apartment Guide, Rent.com, Lovely, Rentals.com, and RentalHouses.com. In total, its network of websites reached nearly 9 million unduplicated unique visitors in January 2015.
The RentPath Network is a leading rental resource that connects apartment consumers to their ideal place to live. With an unmatched search capability, amplified by constantly refined tools and industry insights, RentPath solutions provide consumers with a clear and simple guide to apartment living through content-rich apartment listings in a user-friendly format with Internet, mobile and social media solutions. Leading the industry with first-to-market mobile introductions of iPad®, iPhone® and Android™ applications, as well as Reputation Monitor and Community Reputation PROSM, the RentPath Network's multi-platform search capability allows renters and property managers to connect wherever they are, whenever they want, in the medium that works best for them. The brand's commitment to maximizing owner and manager value makes RentPath a leading multifamily housing industry partner.
RentPath has its headquarters in Norcross, Georgia (outside of Atlanta). For more information, visit www.rentpath.com.
Logo - http://photos.prnewswire.com/prnh/20150408/197440LOGO
SOURCE RentPath
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article