For the second straight quarter, the Google real estate CPL was higher (full report here) than the year before as the cost of real estate leads returns to pre-pandemic levels. Still, the CPL remains better than it was in 2019.
All of the top 20 markets experienced year-over-year increases in CPL and almost all of the top 100. Only Augusta, GA, and Palm Bay, FL, improved year over year.
Among the top 20, Tampa, Houston, and Atlanta led the way with the lowest cost per leads. The highest were in San Francisco and Seattle. In general, the California markets had some of the highest lead costs.
We expect these CPL trends will continue to the near future. Lead costs will remain low when compared to historic levels but will be higher than they were during the peak of the pandemic.
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.