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April 25, 2007 / Toby Dayton

The Third Shoe Finally Drops….

As more daily newspapers report first quarter numbers, it has become clear that the decline in real estate classified ad sales has impacted every region of the country. And not only is the decline substantial, it has dealt a crushing blow to the financial performance of the nation’s largest newspaper companies. The decline of roughly 2.26% in real estate classifieds, as estimated by the Newspaper Association of America, is similar to the 1.8% drop in auto classifieds in Q4 ’03 and far less than the 16.9% drop in employment classifieds in Q1 ’01. Both of those declines were followed by long-term struggles which have persisted to the present day, as MediaPost correctly points out in today’s article, “Real estate Classifieds: The Roof Caves In.” So the third shoe has finally dropped, and the results have proven debilitating.

[tags]Real estate Classifieds, Death of Newspapers, Decline of Newspapers, Daily Newspapers, MediaPost, Advertising, Classified Advertising, Publishing, Media[/tags]