The cost of real estate leads has so far remained at record low levels in 2021. CINC’s 1st quarter cost per lead was $3.90 which was the lowest ever for a 1st quarter. This report focuses on Google Buyer advertising which is the majority of CINC’s advertising spend.
CINC is the leader in online real estate lead generation with more than 3,000 clients. The CINC client marketing team manages almost $30 million in search and social advertising spend annually.
The strong 1st quarter results continued the fast pace from 2020 which was driven in part by the pandemic which increased home search traffic throughout the year.
Although the overall cost per lead improved 19 percent, a few markets had higher lead prices in 2021 than in 2020. The peak climber was El Paso which jumped 461% to a still good $4.37.
Even so, 87 of the top 100 largest markets improved year over year. Waco, TX, Columbus, GA, and Beaumont, TX, had the best CPL overall. The best performing large markets were Tampa, Houston, and Atlanta.
The CPL should remain at the low levels during the 2nd quarter. However, because the results will be compared to a very robust 2020 2nd quarter, we may see a bit of a year-over-year increase.