Most Sundays, Bob Peltier buys six ad pages in the two Twin Cities newspapers. But Labor Day weekend was a turning point for the president of Edina Realty, Minnesota’s top real estate firm.
Instead of pages of open-house listings, Edina ran one page in each paper: The ad had a picture of a computer, but no information about houses at all. Instead, it told buyers to see Edina’s Web site for open houses.
Peltier’s decision shows how a soft housing market could deliver yet more bad news for newspapers. Three new studies say the $11.6 billion real estate ad market is set to shift hard from print to the Internet.
Photo by Justin.
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