Tag Archives: Zillow

Real estate website Zillow is reportedly making moves to acquire rival site Trulia in a deal that could see the merging of two of the country's most popular online real estate resources.

Home purchases made with cash are on the decline across the country, according to Zillow, but cash sales still make up a significant portion of the lower-priced home market in many areas. Cash sales declined year-over-year in the first quarter in 102 of the 126 metro areas Zillow observes. Zillow chalked up the decline to waning investor demand and a resurgence of traditional buyers in the market.

For the fourth straight month, the inventory of homes for sale has declined 0.4 percent annually in April, according to Zillow. Despite home values falling modestly month-over-month, inventory remains tight with 21 of the nation's largest 35 metros experiencing waning inventory.

Zillow released its Negative Equity Report for the first quarter, revealing an estimated 9.7 million homeowners continue to owe more on their mortgage than their home is worth. That number, down from about 9.8 million in Q4 2013, represents about 18.8 percent of mortgage-paying Americans, according to Zillow.

In a survey of 106 economists, real estate experts, and investment and market strategists, Zillow found a slight majority—28 percent—pinned the most blame for declining affordability on stagnant income growth across the country, even as the rest of the economy has moved in a generally positive direction.

Zillow's break-even horizon analysis came to an interesting conclusion: in half of U.S. metros, buying a home is a better financial decision than renting for buyers intending to stay in their home at least two years. The company’s analysis includes all costs associated with buying versus renting, including upfront payments, closing costs, anticipated monthly rent and mortgage payments.

Zillow’s Q1 Real Estate Market Report, released Tuesday, shows that home values across the United States are up 5.7 percent (to a national median of $169,800) compared to Q1 2013. Even more encouraging is that home values in 527 U.S. cities that saw declines of 10 percent or more during the recession are either at their peak or soon will be.

A look into 35 major markets by Zillow reveals that buyers making the median income in Southern California, the Bay Area, Portland (Oregon), Denver, and Miami face markets where more than half the available homes are beyond their price range—which could mean the beginning of a new housing bubble.

According to the latest market analysis report released Thursday by Zillow, whether a buyer or a seller has the upper hand in home sales this spring will depend largely on which part of the country their deal takes place.

Move, Inc. filed a lawsuit Monday against Zillow, Inc. and newly hired Zillow executive Errol Samuelson. The suit was filed in the Superior Court of King County, Washington. The lawsuit against Zillow and Samuelson alleges breach of contract, breach of fiduciary duty, and misappropriate of trade secrets.