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Renting a Home More Affordable than Buying in 59 Percent of U.S. Housing Markets
Home Prices Outpacing Wages in 80 Percent of the U.S. Housing Markets IRVINE, Calif. – Jan. 10, 2019 — ATTOM Data Solutions, curator of the nation's premier property database, today released its 2019 Rental Affordability Report, which shows that renting a three-bedroom property is more affordable than buying a median-priced home in 442 of 755 U.S. counties analyzed for the report — 59 percent. The analysis incorporated recently released fair market rent data for 2019 from the U.S. Department of Housing and Urban Development, wage data from the Bureau of Labor Statistics along with public record sales deed data from ATTOM Data Solutions in 755 U.S. counties with sufficient home sales data (see full methodology below). "With rental affordability outpacing home affordability in the majority of U.S. housing markets, and home prices rising faster than rental rates, the American dream of owning a home, may be just that — a dream, "said Jennifer von Pohlmann, director of content and PR at ATTOM Data Solutions. "With home price appreciation increasing annually at an average of 6.7 percent in those counties analyzed for this report and rental rates increasing an average of 3.5 percent, coupled with the fact that home prices are outpacing wages in 80 percent of the counties, renting a home is clearly becoming the more attractive option in this volatile housing market." Renting more affordable than buying in nation's most populated counties Renting is more affordable than buying a home in the nation's 18 most populated counties and in 37 of 40 counties with a population of 1 million or more (93 percent) — including Los Angeles County, California; Cook County (Chicago), Illinois; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; and San Diego County, California. Other markets with a population of more than 1 million where it is more affordable to rent than to buy a home included counties in Miami, New York City, Seattle, Las Vegas, San Jose, San Francisco and Boston. Among the 40 U.S. counties analyzed in the report with a population of 1 million or more, the three where it is more affordable to buy a home than rent were Wayne County (Detroit), Michigan; Philadelphia County, Pennsylvania; and Cuyahoga County (Cleveland), Ohio. Buy or Rent in 2019 Heat Map Least affordable rental markets in Northern California, Hawaii, D.C. The report shows that renting a three-bedroom property requires an average of 38.0 percent of weekly wages across the 755 counties analyzed for the report. The least affordable markets for renting are Santa Cruz County, California (81.7 percent of average wages to rent); Honolulu County, Hawaii (74.4 percent); Spotsylvania County, Virginia (73.0 percent); Maui County, Hawaii (69.5 percent); San Benito County, California (68.6 percent); Monroe County, Florida (67.3 percent); Sonoma County (Santa Rosa area), California (66.0 percent); Marin County (San Francisco area), California (65.6 percent); and Kings County, New York (63.7 percent). Most affordable rental markets in Ohio, North Carolina, Wisconsin, Pennsylvania The most affordable markets for renting are Roane County (Knoxville area), Tennessee (19.7 percent of average wages to rent); Peoria County, Illinois (23.8 percent); Mcminn County (Athens), Tennessee (23.8 percent); Green County (Dayton), Ohio (24.2 percent); and Rhea County (Dayton area), Ohio (24.6 percent). Among counties with a population of 1 million or more, those most affordable for renting are Allegheny County (Pittsburgh), Pennsylvania (25.1 percent); Cuyahoga County (Cleveland), Ohio (25.6 percent); Saint Louis County, Missouri (26.4 percent); Oakland County (Detroit area), Michigan (26.7 percent); and Wayne County (Detroit), Michigan (27.7 percent). Rent growth outpacing wage growth in 52 percent of markets Average fair market rents rose faster than average weekly wages in 394 of the 755 counties analyzed in the report (52 percent), including Los Angeles County, California; Cook County (Chicago), Illinois; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; and San Diego County, California. Average weekly wages rose faster than average fair market rents in 361 of the 755 counties analyzed in the report (48 percent), including Kings County (Brooklyn), New York; Queens County, New York; Clark County (Las Vegas), Nevada; Tarrant County (Dallas-Fort Worth), Texas; Santa Clara (San Jose), California; Broward County (Miami), Florida; and Alameda (San Francisco), California. Home prices rising faster than wages in 80 percent of markets Median home prices rose faster than average weekly wages in 601 of the 755 counties analyzed in the report (80 percent), including Los Angeles County, California; Cook County (Chicago), Illinois; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; San Diego County, California; Orange County, California; and Miami-Dade County, Florida. Average weekly wages rose faster than median home prices in 154 of the 755 counties analyzed in the report (20 percent), including Kings County (Brooklyn), New York; Queens County, New York; King County (Seattle), Washington; Suffolk County, New York; and Bronx County, New York. Home prices rising faster than rents in 70 percent of markets Median home prices rose faster than average fair market rents in 531 of the 755 counties analyzed in the report, including Cook County (Chicago), Illinois; Harris County (Houston), Texas; Maricopa County (Phoenix), Arizona; Kings County (Brooklyn), New York; Queens County, New York; and Riverside County, California. Average fair market rents rose faster than median home prices in 224 of the 755 counties analyzed in the report (30 percent), including Los Angeles County, California; San Diego County, California; Orange County, California; Miami-Dade County, Florida; Dallas County, Texas; and Kings County (Seattle), Washington. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.
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Leading iBuyers Selling Nearly One in 10 Homes to Institutional Investors According to New ATTOM Data Solutions Analysis
Top Three Buying Entities Related to Companies Purchasing Single Family Homes as Rentals IRVINE, Calif. — Nov. 29, 2018 — ATTOM Data Solutions, curator of the nation's premier property database, today released an analysis that shows that nearly one in 10 homes sold so far in 2018 by the nation's two leading iBuyers — Opendoor and Offerpad — were purchased by institutional investor entities buying at least 10 homes. According to the analysis, a total of 743 homes sold by the two iBuyers — companies that buy directly from homeowners via all-cash offers — were purchased by institutional investors so far in 2018, representing 9.6 percent of all sales by those two iBuyers combined. That is up from 293 institutional investor purchases representing 6.6 percent of the iBuyer sales in 2017, and 65 institutional investor purchases representing 3.9 percent of the iBuyer sales in 2016. "Tight inventory is a common challenge facing both individual and institutional single family rental investors across the country," said Daren Blomquist, senior vice president with ATTOM Data Solutions. "Meanwhile the appetite for more SFR inventory continues to grow as a new wave of institutional capital builds. Industry innovators are rising to meet this challenge through a variety of inventory-inducing channels, including off-market, build-to-rent, and iBuyer initiatives." Top Three Buying Entities The top three institutional buying entities — CERBERUS SFR HOLDINGS LP, CSH PROPERTY ONE LLC, and TAH HOLDING LP — all appear to be related to companies purchasing single family homes as rentals. These institutional investors may be turning to iBuyers as a source of inventory even as other sources of inventory such as foreclosures have largely dried up in recent years. Institutional investor purchases represented just 2.3 percent of all U.S. home sales so far in 2018, down from 2.9 percent in 2017 and down from a peak of 7.4 percent in 2012, according to the ATTOM analysis. "There are a lot of buyers, both big and small, looking to grow their SFR portfolios and inventory is very tight. This is leading to creative ways to find new product — from build-to-rent programs, off-market inventory programs and iBuyer initiatives," said Kevin Ortner, CEO with Renters Warehouse, a company that manages more than 22,000 SFR properties in 42 states. "There are several firms positioning themselves to be able to help bring supply to meet the demands of investors, and I expect that will continue to grow. I'm also seeing investment in technology and data across the space allowing greater scale, efficiencies and insights." "A properly priced rental home today, there is almost limitless demand for it," said Gary Beasley, CEO and co-founder with Roofstock, an online marketplace for SFR properties that itself is working on ways to create SFR inventory for both retail buyers and institutional buyers. "We have to get creative about how to attract this inventory, and if it isn't available to create it." Methodology ATTOM Data Solutions analyzed public record sales deed data from its nationwide property data warehouse for sales by entities associated with Opendoor and Offerpad, broken down by purchase entity. Purchase entities that bought at least 10 homes from the two iBuyers combined were considered institutional investors. For overall home sales, ATTOM considered any entity buying 10 or more properties in a calendar year as an institutional buyer. About ATTOM Data Solutions ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation's population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, APIs, market trends, marketing lists, match & append and more.
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Home Prices Rise Three Times Faster than Rents
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Apartments.com and realtor.com Enter into Content Syndication Partnership
Partnership is expected to bring millions of additional potential renters to Apartments.com's immense audience WASHINGTON, June 14, 2018 -- CoStar Group, Inc., owner of Apartments.com, today announced an exclusive partnership with realtor.com® operator Move, Inc. to power the apartment rental listings on Move's websites: realtor.com and Doorsteps.com. Apartment communities advertised on Apartments.com will be displayed on the Move network, generating exposure to millions of additional potential renters. Apartments.com advertisers are expected to save more time and further maximize the impact of their advertising dollars. Apartments listed and advertised on Apartments.com will automatically appear on realtor.com®, ForRent.com, ApartmentFinder.com, WestsideRentals.com, Apartamentos.com, ApartmentHomeLiving.com, and Doorsteps.com. "We believe that with this important new partnership, Apartments.com advertisers will see more leads, leases and better value for their advertising dollars," said Andrew Florance, CoStar Group Chief Executive Officer. "This is great for all of the participants in the marketplace as it increases the likelihood of creating successful connections. Everybody wins." The Apartments.com network is number one in consumer engagement and is the industry's most heavily trafficked apartment rental network, with more websites, listings and original content for renters than any other network. Mr. Florance continued, "We have invested over $1 billion in our multifamily offerings and we are committed to delivering the best results for all of our audiences, whether they are advertisers, consumers, property managers, investors or lenders." Offering the most comprehensive source of for-sale MLS-listed properties, realtor.com® is a leading online real estate destination for home buyers, sellers, renters and dreamers, attracting more than 60 million unique users a month. Doorsteps.com is a leading destination for local rental listings, homebuyer education and tools for real estate professionals. "The entire community benefits from this partnership providing users access to an unsurpassed selection of apartment listings with the high-quality content from Apartments.com," said Ryan O'Hara, Chief Executive Officer of Move. "At realtor.com®, we always work to ensure that we have the widest selection of listings in any category." This new partnership terminates realtor.com's partnership with Apartment List. Apartment List listings will be removed from realtor.com® by Sept. 1, 2018. About CoStar Group, Inc. CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with over 5 million monthly unique visitors per month. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group's websites attracted an average of approximately 38 million unique monthly visitors in aggregate in the first quarter of 2018. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 4,100 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com. About Move, Inc. Move, Inc., a subsidiary of News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV], provides access to unsurpassed real estate information, tools and professional expertise across a family of websites and mobile experiences for consumers and real estate professionals through all stages of the home journey. It has a perpetual license to operate realtor.com from the National Association of REALTORS®.
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CoreLogic Reports US Single-Family Rent Prices Increased 2.8 Percent Year Over Year in January 2018
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Rising Rents Push Millennials to Become Homeowners
SANTA CLARA, Calif., March 30, 2018 -- This year, the typical spring buyer is on the hunt for a three bedroom, two bathroom home with a garage and up-to-date kitchen, according to a new survey released today from realtor.com®, a leading online real estate destination. The survey also revealed family needs and rising rents are motivating millennials to get into the market, while 55+ buyers are looking for privacy and comfort in their new home. "Although record-low inventory and high prices make this housing market unique, some classic features still top most shoppers' wish lists," said Danielle Hale, chief economist for realtor.com®. "At the same time, we found some clear differences in priorities. For instance, older buyers are concerned with privacy and being able to age comfortably, while millennials place more emphasis on family needs, stability, and personal expression." Based on online survey of more than 1,000 active buyers conducted in early March by Toluna Research, the survey provides insight into both the most sought after homes as well as the motivations underpinning what shoppers are looking for. Majority of buyers want space, multiple bathrooms, and a garage The survey found many commonalities among homebuyers of all ages. In fact, 44 percent of all respondents said they are looking for a three-bedroom home and 93 percent of respondents want at least two bathrooms. Additionally, 27 percent of all buyers rate a garage as one of the most important home features, ahead of an updated kitchen, 24 percent, and open floor plan, 20 percent. Older Buyers Want Privacy and Comfort; Millennials Favor Family and Self-Expression According to the survey, more than 20 percent of buyers 55 years and older said that privacy – having a space solely of their own – was their main goal for purchasing a home. That was followed by their motivation for physical comforts at 18 percent and stability, at 15 percent. By contrast, family needs took precedence for younger buyers. Fulfilling family needs took the top spot for millennial buyers, at 17 percent, followed by stability at 14 percent and personal expression at 13 percent. Only 12 percent of buyers younger than 55 cited privacy as their chief priority. Only 9 percent of 35- to 54-year-old buyers and 6 percent of 55+ cited personal expression as a main goal for purchasing a home. For Millennials, the Rent is Too High Twenty-three percent of buyers between 18 and 34 years old reported rising rent as a trigger for their desire to purchase a home – more than any other option. This corresponds with steep increases in rents across the country in recent years, especially in many high-cost urban areas that have become magnets for millennials. HUD data shows that rents were up in 85 of the top 100 metro areas, including 9 metros where rents were up by double-digit percent from a year ago. Millennials Like Contemporary and Colonial Homes; Older Buyers Prefer Ranches Among millennials who expressed a home-style preference – 11 percent didn't – contemporary and colonial homes took the top spots, each favored by 10 percent of respondents. On the other hand, ranches are the most popular home style for buyers 55 and older, favored by 28 percent, followed distantly by contemporary homes at 12 percent. Only 6 percent of millennials favor ranch homes. For the full results, please click here. Information about realtor.com®'s 2017 home buyer preference survey is available here. About realtor.com® Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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Most Renters Want to Own a Home; Lifestyle Changes Are Top Motivation to Buy
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Apartment List to Power Apartment Community Listings on Realtor.com
Relationship Leverages Fastest-Growing Apartment Rental Marketplace to Provide Renters with Customized Experience SANTA CLARA, Calif., Dec. 6, 2017 -- Move, Inc., operator of realtor.com®, a leading online real estate destination, today announced that it has selected Apartment List, the fastest-growing apartment rental marketplace, to exclusively power the apartment community listings on its realtor.com® and Doorsteps.com websites. The Apartment List platform will complement realtor.com®'s rich rental listings content derived from relationships with agents, brokers, landlords and residential property managers nationwide. Apartment List hosts five million visits each month in over 40 cities nationwide. "At realtor.com, our mission is to make the home journey simple, efficient and enjoyable. As we evaluated potential rental partners, Apartment List stood out among a crowded field of competitors," said Ryan O'Hara, chief executive officer of Move, Inc. "Apartment List is changing how people search for apartments by offering a highly customized experience that is built on renters' personal priorities. It's this type of innovation that aligns with our philosophy and makes Apartment List the right rentals partner for the experience we are striving to deliver across our platforms." As housing prices continue to increase, the rental market is often the first place people look for a home. Realtor.com® and Doorsteps.com attract more than 5 million unique visitors each month in search of rental opportunities, resulting in 120 million monthly page views. "We are thrilled to be selected as realtor.com's exclusive partner for apartment community listings, bringing more than 3.5 million rental units to their substantial audience," said John Kobs, chief executive officer and co-founder of Apartment List. "Through this partnership, we're bringing together two leading digital marketplaces to simplify the rental process for millions of families in the U.S. in search of their next home." The Apartment List rental inventory will begin appearing on realtor.com® and Doorsteps.com in January 2018. About Move, Inc. and realtor.com® Move, Inc., a subsidiary of News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV], provides unsurpassed real estate information, tools and professional expertise across a family of websites and mobile experiences for consumers and real estate professionals. The Move network includes realtor.com® as well as Doorsteps®, Moving.com™ and SeniorHousingNet℠, and offers a complete solution of software products and services to help real estate professionals serve their clients and grow their business in a digital world. Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by Move under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®. About Apartment List Apartment List is the web's fastest-growing apartment rental marketplace on a mission to make finding a home an easy and delightful process. The company currently has over 3.5 million units on the platform and hosts five million visits each month in over 40 cities nationwide. Since inception, Apartment has raised nearly $60M in funding from investors including Caanan Partners, Matrix Partners and Passport Capital. Founded by CEO John Kobs and COO Chris Erickson, Apartment List launched its pure play rental marketplace in November 2014. The company has been named one of Forbes' "Top 25 Most Promising Companies" and one of Inc.'s "Fastest Growing Private Companies in the U.S." Learn more at apartmentlist.com.
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Redfin Names 15 Colleges Where Students Should Buy Real Estate Instead of Rent Dorms
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Apartment List Partners with Homes.com to Make Multi-Family Renting More Accessible
Exclusive partnership brings Apartment List's multi-family expertise to Homes.com's platform SAN FRANCISCO, Sept. 26, 2017 -- Apartment List, the fastest growing rental marketplace, today announced a partnership with Homes.com, the leading online real estate destination and provider of real estate marketing solutions, to be the exclusive supplier of U.S. multi-family rental community listings* to Homes.com. The partnership combines Homes.com's audience and reach with Apartment List's best-in-class user experience and platform. According to U.S. Census data, homeownership rates have plummeted since the 2008 recession. Apartment Lists' recent Rentonomics report shows that more people are renting due to high homeownership costs and a lack of savings: 72 percent of millennial renters who would like to buy a home cite affordability as their biggest obstacle. In addition, generational tastes among millennials gravitate towards the flexibility that renting provides. "There has been a surprising lack of innovation to connect renters and properties, with many people relying on decades-old technology" said John Kobs, CEO and co-founder of Apartment List. "We're thrilled to partner with Homes.com to deliver our powerful search tools and streamlined user experience to their users. Together, we're making it easier and more accessible for millions of people to rent homes, with a wider array of listings than ever before." "Homes.com is excited to partner with Apartment List to offer consumers searching for their next home a best-in-class rental search experience," said David Mele, president of Homes.com. "This strategic collaboration offers added exposure and will drive more qualified consumers to Apartment List rental communities." Unlike other apartment search providers, Apartment List is focused on the renter and property owner, and has helped over 100,000 families find their home since 2014. The company offers the only pure play transaction-based marketplace for long-term rentals. * Multi-family rental communities of more than 100 units located within the U.S. About Apartment List Apartment List is the fastest-growing online apartment rental marketplace on a mission to make finding a home an easy and delightful process. The company currently has over three million units on the platform and has reached more than 66 million users in over 40 cities since launch. Since inception, Apartment has raised nearly $60M in funding from investors including Caanan Partners, Matrix Partners and Passport Capital. Apartment List launched in September 2011 and was founded by CEO John Kobs and COO Chris Erickson. The company has been named one of Forbes' "Top 25 Most Promising Companies" and one of Inc.'s "Fastest Growing Private Companies in the U.S." Learn more at www.apartmentlist.com. About Homes.com Homes.com is a leading provider of real estate marketing and media services, including brand advertising, property listing exposure and syndication, search engine marketing and instant response lead generation. Homes.com Connect offers the real estate industry's first-ever all-inclusive marketing platform for agents and brokers featuring single-login convenience. Homes.com is visited by over 14 million consumers each month to search nearly four million properties for sale or rent, to locate real estate agents in their area, and to find useful home buying tips. For more information, visit www.Homes.com.
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Realtor.com® Names 2017 Hottest College Investment Towns Ahead of National College Decision Day
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Doorsteps Launches Rental Property Bot for Messenger
  SANTA CLARA, Calif., Dec. 8, 2016 -- Doorsteps, powered by realtor.com®, today announced the launch of Doorsteps bot for Messenger that allows consumers to easily share criteria and automatically receive rental listings within Messenger. Realtor.com® is operated by News Corp subsidiary Move, Inc., a leading provider of online real estate services. As the rental market moves quickly, Doorsteps bot for Messenger taps one of the largest inventories of rental listings to provide daily updates and an opportunity to snatch up the latest loft or rustic inspired rental on the market. Properties are sourced from realtor.com®. With Doorsteps bot for Messenger, users can share the location they are looking in or share their phone's geolocation, and the bot responds with simple questions to best determine rentals that fit what the user is looking for - such as number of bedrooms, bathrooms and monthly price range. With a few simple commands, users can update their rental search criteria at any time. Doorsteps responds to search queries immediately with a list of rentals meeting the criteria outlined, and allows user scroll through options within Messenger, viewing photos and monthly cost. Users can opt to learn more about a listing, directing them to the listing on Doorsteps, or share the listing with friends via Messenger. New properties matching the specified search criteria are currently provided daily at 10 a.m. ET, and soon consumers will be able to customize the time to best suit their needs. "Given the competitive nature of the rental market, where moving quickly can mean landing the home of your dreams, it's important to create a rental search experience on the platforms our consumers are using in their daily lives," said Todd Callow, senior director of product at realtor.com®. "Doorsteps has already revolutionized rentals on mobile with Doorsteps Swipe, and today we're expanding that to our first messaging platform, bringing instant rental searches to where many consumers often are – Facebook and Messenger." Additional features and filter options for Doorsteps' bot will roll out in coming months, allowing further personalization to make the rental search experience as seamless as possible. Doorsteps will be expanding to additional messaging platforms in early 2017. Realtor.com® also offers a News & Advice chat bot for Messenger, so buyers and sellers can stay up to date on the latest real estate news via daily updates to Messenger. To subscribe, simply visit realtor.com® Facebook page, click message and type "subscribe." About realtor.com® Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.
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CoreLogic Announces Business Relationship with RentTrack
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Affordability Concerns, Uncertainty about Down Payment Requirements Ensnaring Renters, Latest HOME Survey Shows
  WASHINGTON (September 14, 2016) – Lofty home-price growth and tight supply are leading to softening confidence among renters about whether it's a good time to buy a home, according to the latest installment of the National Association of Realtors® Housing Opportunities and Market Experience (HOME) survey. The survey also found that a misconception about how much of a down payment is needed to buy could be unnecessarily delaying some qualified young adults from entering the market. In NAR's third quarter HOME consumer survey, respondents were asked about their confidence in the U.S. economy and various questions about their housing expectations, including a series of questions related to down payments and the amount of money they believe they need to purchase a home. Heading into the autumn months, the share of homeowners and renters who believe now is a good time to buy remains at a solid majority but has crept downward since the beginning of this year. Seventy-eight percent of homeowners (80 percent in June; 82 percent in March) and 60 percent of renters (62 percent in the previous two quarters) said it's a good time to buy. In the inaugural HOME survey in December 2015, 68 percent of renters said it was a good time to buy. Lawrence Yun, NAR chief economist, says it's clear the ongoing run-up in home prices and severe inventory shortages in a large portion of the country are hitting consumer psyche – especially among renters. "This summer's historically low mortgage rates injected some additional demand into the market, but the dearth of homes for sale continues to keep a lid on sales but not prices," he said. "Given the stiff competition and limited homes available at the lower end of the market, it's not surprising at all that those under the age of 34 and in the West are the least confident about it being a good time to buy." Adds Yun, "Very affordable mortgage rates and strong job gains among young adults should be translating to a higher rate of homeownership. It's not, and as a result, sales to first-time buyers remain stuck below a third of all sales." This quarter's HOME survey also found that awareness of low-down-payment mortgage options was scarce across all ages, income brackets and education levels. Fewer than 20 percent in each group indicated that they need 10 percent or less to finance their home purchase. Those ages 65 and older (43 percent) and under the age of 35 (37 percent) were the most likely to believe that they need more than 20 percent. "It's possible some of the hesitation about buying right now among young adults is from them not realizing there  are mortgage financing options available that do not require a 20 percent down payment, which would be north of $100,000 in some expensive areas in the country," says Yun. "In fact, most first-time buyers put down much less. In the 35 year history of NAR's Profile of Home Buyers and Sellers – the longest-running survey series of national housing data – the average median down payment has been 5 percent for first-time buyers." With home prices and rents continuing to climb and make it difficult for many to save for a home purchase, one avenue for about a fifth (19 percent) of current homeowners was receiving down payment assistance from a parent or relative. Homeowners ages 34 and under were the most likely to say they received help from a parent or relative (34 percent), along with those living in the Northeast and in urban areas. When it comes to giving aid to prospective buyers, 16 percent said they have helped a child or relative with their down payment. It's no surprise that the older the respondent, the more likely they were to assist. "Creditworthy prospective buyers should know that many lenders now offer safe, sustainable loans with as little as 3 percent down, and obtaining a mortgage isn't as difficult as it was in the immediate years after the downturn," says NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. "Every buyer is different. Before deciding how much to use on a down payment, buyers should carefully review their financial situation and make sure they still have enough money set aside after the home purchase for unexpected expenses and emergencies. A Realtor® will walk through what to consider based on what a buyer can comfortably afford." Feelings about direction of U.S. economy, personal financial outlook remain unchanged Following the same trend line since the inaugural HOME survey in December 2015, a little less than half of all households in the survey believe the economy is improving (48 percent). The younger the household the more optimistic they were about the economy's future prospects. Meanwhile, nearly two-thirds of those living in rural areas (63 percent) and 61 percent of those over the age of 65 don't believe the economy is improving. The HOME survey's monthly Personal Financial Outlook Index, showing respondents' confidence that their financial situation will be better in six months, ticked up very slightly (to 58.6 in September) since June (57.7), but is up much more since last September, when stock market losses at the time temporarily caused more consumer angst (53.0). Most expect prices to hold steady or increase, slightly more think it's a good time to sell More current homeowners (63 percent) believe it is a good time to sell compared to the second quarter of this year (61 percent). Respondents in the West continue to be the most likely to think now is a good time to sell, while also being the least likely to think now is a good time to buy. Consistent with last quarter (93 percent), almost all of those surveyed (91 percent) believe that prices will stay the same or rise in their community in the next six months. Renters, respondents living in urban areas and those from the West are most likely to believe prices will go up in their communities. About NAR's HOME survey In July through early September 2016, a sample of U.S. households was surveyed via random-digit dial, including half via cell phones and the other half via land lines. The survey was conducted by an established survey research firm, TechnoMetrica Market Intelligence. Each month approximately 900 qualified households responded to the survey. The data was compiled for this report and a total of 2,761 household responses are represented. The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing over 1.1 million members involved in all aspects of the residential and commercial real estate industries.
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NAR Identifies Top Markets Where Renters Can Afford to Buy
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RealtyTrac Ranks Best Markets for Buying Single Family Rentals in 2016
IRVINE, CA--(March 31, 2016) - RealtyTrac®, the nation's leading source for comprehensive housing data, today released its Q1 2016 Single Family Rental Market Report, which ranks the best markets for buying residential rental properties in 2016. The report analyzed single family rental returns in 448 U.S. counties each with a population of at least 100,000 and sufficient rental and home price data. Rental data was from the U.S. Department of Housing and Urban Development, and home price data was from publicly recorded sales deed data collected and licensed by RealtyTrac markets (see full methodology below). The report ranked all 448 counties based on the potential annual gross rental yield (monthly rent, annualized, divided by median home price) and also identified the best counties for future growth in the single family rental market and the best millennial magnet single family rental markets. View interactive map displaying SFR returns in all 448 counties analyzed. "Rapidly rising home prices and tepid wage growth have dampened single family rental investment returns and growth potential in many markets, but there are still plenty of solid opportunities available for real estate investors willing to cast a wider geographic net," said Daren Blomquist, senior vice president at RealtyTrac. "Rents are rising faster than median home prices in 45 percent of the markets analyzed -- indicating continued strong demand for rentals in those markets -- while annual wage growth is outpacing rent growth in 43 percent of the markets -- indicating room for rising rental returns in those markets." Counties with highest single family rental returns The average annual gross rental yield among the 448 counties was 9.4 percent, down from an average of 9.5 percent in the first quarter of 2015. Counties with the highest annual gross rental yields were Baltimore City, Maryland (28.5 percent); Clayton County, Georgia, in the Atlanta metro area (25.8 percent); Wayne County, Michigan in the Detroit metro area (24.2 percent); Bay County, Michigan, in the Bay City metro area (21.2 percent); and Macon County, Georgia (20.6 percent). "The strong South Florida rental market continues to give solid returns to the investors," said Mike Pappas, president and CEO of the Keyes Company, covering the South Florida market, where Miami-Dade County's potential single family rental return was 8.4 percent with rents rising 4 percent annually and home prices rising 11 percent annually. "Our limited land with growing population give the investors an additional equity kick in rising prices." Counties with lowest single family rental returns Counties with the lowest annual gross rental yields were Arlington County, Virginia in the Washington, D.C., metro area (3.3 percent); California Bay area counties of San Francisco (3.4 percent), San Mateo (3.6 percent), Marin (3.9 percent), Santa Cruz (4.0 percent) and Santa Clara (4.0 percent); Williamson County in the Nashville metro area (4.0 percent); and Kings County (Brooklyn), New York (4.0 percent). "I would expect to see a modest slowdown in rental rate growth given the distinct ties that there are between rental rate growth and income growth," said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market, where King County's potential rental returns for 2016 ranked 394 out of the 448 counties analyzed. "If incomes do not keep on growing, rental rates cannot either. "I am also finding that some softness is starting to enter the single family rental market in Seattle for other reasons," continued Gardner, who noted that the RealtyTrac analysis shows King County rents grew 6 percent annually, home prices grew 10 percent annually while average wages grew less than 1 percent annually. "The first is that home prices are increasing to such a degree -- specifically in King County -- that investors will not be able to get sufficient yield on rents given high prices that they have to pay for houses. "Secondly, many single family rental households are families who had lost their previous home to foreclosure and are now becoming so-called 'boomerang buyers' who are now starting to be able to qualify for a mortgage again and are likely heading back into home ownership. This will reduce demand for single family rentals, and millennials will not take their place as they prefer urban multi-family units. Because of these confluence of factors, landlords are going to be cautious with any potential acquisition." Best single family rental growth markets The report identified and ranked 17 counties as the best markets for future growth in single family rental returns. In all 17 counties average weekly wages grew at least 5.0 percent annually and annual wage growth outpaced annual rental rate growth The top five counties are Genesee County, Michigan in the Flint metro area (15.3 percent annual gross rental yield and 5.0 percent annual wage growth); Camden County, New Jersey in the Philadelphia metro area (12.9 percent annual gross rental yield and 5.5 percent annual wage growth); Woodbury County, Iowa in the Sioux City metro area (11.4 percent annual gross rental yield and 11.3 percent annual wage growth); De Kalb County, Illinois in the Chicago metro area (11.3 percent annual gross rental yield and 8.9 percent annual wage growth); and Warren County, New Jersey in the Allentown, Pennsylvania metro area (10.8 percent annual gross rental yield and 6.0 percent annual wage growth). "With increasing jobs and immigrant growth, housing demand continues to grow across Ohio," said Michael Mahon, president at HER Realtors. As available housing inventory and new construction inventory remain low, rental pricing shall continue to rise throughout much of 2016." View interactive table showing all 17 best SFR growth markets. Best millennial magnet single family rental markets The report also identified and ranked 15 counties as the best markets for renting single family homes to millennials. In all 15 counties, the millennial share of the population increased at least a 10 percent between 2008 and 2013 and annual wage growth outpaced annual rental rate growth. Top five counties are Milwaukee County, Wisconsin (15.7 percent annual gross rental yield and millennial population share increase of 16.4 percent); Richmond City, Virginia (13.7 percent annual gross rental yield and millennial population share increase of 27.6 percent); Bell County, Texas in the Killeen-Temple metro area (11.9 percent annual gross rental yield and millennial population share increase of 20.6 percent); Jackson County, Missouri in the Kansas City metro area (11.1 percent annual gross rental yield and millennial population share increase of 13.5 percent), and Okaloosa County, Florida in the Crestview-Fort Walton Beach-Destin metro area (10.5 percent annual gross rental yield and millennial population share increase of 22.2 percent). View interactive table showing all 15 best millennial SFR markets. Zip codes with best and worst single family rental returns The report analyzed single family rental returns in 6,551 zip codes nationwide with a population of at least 2,500 and sufficient rental and home price data. The top five zip codes with the highest potential single family rental returns for 2016 were 48505 in the Flint, Michigan metro area (150.2 percent); 21223 in the Baltimore, Maryland metro area (102.0 percent); 35208 in the Birmingham, Alabama metro area (89.7 percent); 21205 in the Baltimore, Maryland metro area (87.8 percent); and 48205 in the Detroit, Michigan metro area (87.1 percent). The top five zip codes with the lowest potential single family rental returns for 2016 were 34102 in The Naples, Florida metro area (0.5 percent); 33480 in the Miami, Florida metro area (0.6 percent); followed by three zip codes in the Los Angeles metro area: 90210 (0.9 percent), 90069 (1.0 percent), and 90402 (1.1 percent). View interactive map displaying best and worst zip-level SFR returns by state. Methodology For this report, RealtyTrac looked at all U.S. counties with a population of 100,000 or more and with sufficient home price and rental rate data. Rental returns were calculated using annual gross rental yields: the 2016 50th percentile rent estimates for three-bedroom homes in each county from the U.S. Department of Housing and Urban Development (HUD), annualized, and divided by the median sales price of residential properties in each county. RealtyTrac also incorporated weekly wage data from the Bureau of Labor Statistics and demographic data from the U.S. Census into the report. The millennial generation was defined as someone who was born between the years 1979 to 1993. About RealtyTrac RealtyTrac is a leading provider of comprehensive U.S. housing and property data, including nationwide parcel-level records for more than 130 million U.S. properties. Detailed data attributes include property characteristics, tax assessor data, sales and mortgage deed records, distressed data, including default, foreclosure and auctions status, and Automated Valuation Models (AVMs). Sourced from RealtyTrac subsidiary Homefacts.com, the company's proprietary national neighborhood-level database includes more than 50 key local and neighborhood level dynamics for residential properties, providing unrivaled pre-diligence capabilities and a parcel risk database for portfolio analysis. RealtyTrac's data is widely viewed as the industry standard and, as such, is relied upon by real estate professionals and service providers, marketers and financial institutions, as well as the Federal Reserve, U.S. Treasury Department, HUD, state housing and banking departments, investment funds and tens of millions of consumers.
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Move, Inc. and Cozy Align to Make Rental Process Easier for Renters and Property Managers
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Apartments.com and Move, Inc., Operator of Realtor.com®, Enter into a Strategic Content Relationship
Washington, D.C., Nov. 20, 2015 – CoStar Group, Inc., owner of Apartments.com, today announced an agreement to exclusively power the apartment community listings on the websites owned and operated by News Corp subsidiary Move, Inc.– realtor.com®, Move.com, and Doorsteps.com – with advertiser content from Apartments.com and ApartmentFinder.com. The Apartments.com apartment community listing information complements realtor.com®'s listings content, which is derived from relationships with agents, brokers, landlords and residential property managers nationwide. The agreement is designed to increase traffic across CoStar's and Move's rental sites with the goal of enabling more leads, faster responses, and increased revenue opportunities for both companies. As part of the relationship, Move websites will now offer even more choices, properties and insights for prospective renters as well. Apartments.com is the most heavily trafficked apartment rental website and has more listings than any other apartment rental site. Realtor.com® is the fastest-growing online real estate destination for home buyers, sellers, renters and dreamers, with audience growth of 43 percent during the first three quarters of 2015. Doorsteps.com and Move.com are leading destinations for local rental listings, homebuyer education and tools for real estate professionals. "Our relationship with realtor.com® means that for one of the lowest price points in the industry and the convenience of a single point of contact, we will now promote our advertisers' communities across six major apartment and real estate rental websites," said Andrew Florance, CoStar Group Founder and Chief Executive Officer. "The Apartments.com Network is now clearly the most heavily trafficked family of apartment rental websites. We expect to drive an even greater increase in lead flow to our advertisers' communities." "We're excited to provide our users access to an unsurpassed selection of apartment listings and new, high quality content dedicated to our renter audience," said Ryan O'Hara, Chief Executive Officer of Move. "We look forward to featuring this content in the coming weeks and delivering an even more valuable experience to renters looking for their next home on realtor.com." The deal extends the Apartments.com rental content to six leading websites including Apartments.com, ApartmentFinder.com, ApartmentHomeLiving.com, realtor.com®, Move.com, and Doorsteps.com. "Renters generally visit multiple websites in their search for an apartment – so it's important to feature our advertisers' communities across multiple websites with diverse character, personality, and functionality," said Florance. "In addition to having massive site traffic, we believe that realtor.com® uniquely serves potential renters who aspire to purchase their dream home." The Apartments.com Network is expected to grow even stronger with December's re-release of ApartmentFinder.com after a $30 million renovation. When CoStar Group re-launched Apartments.com earlier this year it enjoyed an immediate and sustained boost in traffic, high consumer satisfaction, and a surge in advertising sales. Florance continued, "We've invested $1 billion in the multifamily sector to deliver the best results for all of our audiences, whether they're advertisers, consumers, property managers, investors, or lenders. The name CoStar itself communicates that we view our efforts as a co-starring role with multifamily agents and brokers to best serve clients. We are very pleased to now have the opportunity to align with realtor.com®, and the professionalism the organization embodies." About CoStar Group, Inc. CoStar Group, Inc. (NASDAQ:CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10 million registered members. Apartments.com, ApartmentFinder.com and ApartmentHomeLiving.com currently form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group operates websites with over 23.7 million unique monthly visitors in aggregate as of September 2015. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Toronto with a staff of approximately 2,850 worldwide, including the industry's largest professional research organization. For more information, visit www.costargroup.com. About Apartments.com Apartments.com is the leading online apartment listing website offering renters access to information on more than 500,000 available units for rent. Powered by CoStar, Apartments.com is supported by the industry's largest professional research team. Apartments.com researchers have visited and photographed over 400,000 properties nationwide, and make over 1 million calls each month to apartment owners and property managers to collect and verify current availabilities, rental rates, pet policies, fees, leasing incentives, concessions, and more. Apartments.com offers more apartments than other apartments websites, and innovative features to help renters refine their searches, including map searches, a Polygon™ tool to draw their own search area on a map, and a "Plan Commute" feature that lets them search for rentals in proximity to a specific address. Apartments.com creates easy access to its listings through a responsive website and iOS and Android apps, and provides unmatched exposure for its advertisers through an intuitive name, strategic search engine placements and innovative emerging media. Apartments.com reaches millions of renters nationwide, driving both qualified traffic and highly engaged renters to leasing offices nationwide. For more information: www.apartments.com. About Move, Inc. and realtor.com® Move operates the realtor.com® website and mobile experiences, which provide buyers, sellers and renters of homes with the information, tools and professional expertise they need to discover and create their perfect home. News Corp acquired Move in November 2014, and realtor.com® quickly established itself as the fastest growing online real estate service provider in 2015 as measured by comScore. As the official website of the National Association of REALTORS®, consumers know they can look to realtor.com® for the most comprehensive and accurate information anytime, anywhere. With relationships with more than 800 multiple listing services (MLS), realtor.com® has more than 3 million for-sale listings, which account for more than 97 percent of all MLS-listed for-sale properties. More than 90 percent of the listings are updated every 15 minutes. Move supports real estate professionals by providing many services to grow their businesses in an increasing digital, on-demand world, including ListHub™, the nation's leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer Systems®; and FiveStreet and Reesio as well as many free services.
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Zillow Group Adds Income Qualification Information to Rental Listings on Zillow, Trulia and HotPads
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Renting Less Affordable Than Ever Before, While Mortgages Remain Affordable, by Historical Standards
  SEATTLE, Aug. 13, 2015 -- Paying for a mortgage is still affordable, while rent takes up more income than ever in most major metro areas, according to a Zillow® analysis of U.S. rental and mortgage affordabilityi in the second quarter of 2015. Rental affordability worsened over the last year, while mortgage affordability stayed essentially the same. Renters in the U.S. can expect to put 30.2 percent of their monthly income toward rent – the highest percentage ever. Before the real estate bubble and bust, U.S. renters could expect to spend about 24.4 percent of their incomes on rent. Buyers should expect to pay 15.1 percent of their income towards mortgage payments, which is still less than what they spent historically. From 1985 through 2000, homeowners spent about 21.3 percent of their monthly income on mortgage payments. In Denver and four California metros, both renters and buyers can expect to pay more of their income towards either rent or mortgage payments than in pre-bubble years. In hot San Jose, renters and buyers should each plan to put about 42 percent of their incomes towards housing. "Our research found that unaffordable rents are making it hard for people to save for a down payment and retirement, and that people whose rent is unaffordable are more likely to skip out on their own healthcare," said Zillow Chief Economist Dr. Svenja Gudell. "There are good reasons to rent temporarily – when you move to a new city, for example – but from an affordability perspective, rents are crazy right now. If you can possibly come up with a down payment, then it's a good time to buy a home and start putting your money toward a mortgage." Mortgage payments will continue to be affordable even if mortgage rates rise as expected. If rates reach six percent next year, home buyers can still expect to spend 30 percent or less of their income on mortgage payments in 265 out of 290 (91.4 percent) of the metros Zillow analyzed, and mortgage payments will be considered more affordable than in pre-bubble years in 72.1 percent of metros. Rents, on the other hand, are already unaffordable compared to historic norms in 77 percent of metros, and with relatively stagnant wage growth, this likely won't improve as rents keep climbing. About Zillow Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), and headquartered in Seattle.
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CoreLogic Enhances Online Leasing Application
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Rents Gallop Past Home Values in April
SEATTLE, May 21, 2015 -- Soaring rents outpaced home values in April for the first time in years, further deepening a "rental crisis" and signaling that home values are growing at a more normal pace, according to April Zillow® Real Estate Market Reports. Home values in April ticked slightly upward from March, to a national Zillow Home Value Index of $178,400 ­– a three percent increase over last April. The Zillow Rent Index (ZRI) rose four percent year-over-year, to $1,364. The switch comes after years of rapid home-value increases sped along by the improving economy. U.S. home values peaked in 2007, and then crashed during the Great Recession between 2008 and 2010. Since then, they have risen rapidly, returning to their peak levels in many markets. Home values have both risen and fallen over the past decade, but rents have been steadily rising. They are now higher than ever before. Rental growth has been outpacing home value growth for several months in some of the nation's hottest markets. In San Francisco, rents started rising faster than home values in July 2014, and have been growing faster ever since on an annual basis. In Boston, annual rental growth has outpaced home value appreciation since August 2014. Low mortgage rates have helped make buying a home much more affordable than renting. On average, U.S. homebuyers can expect to spend about 15.3 percent of their income each month on a typical house payment. Renters can expect to spend about 30 percent on a monthly rent payment. "There are tremendous incentives to get into homeownership these days: mortgage access is improving, interest rates are low, and home values remain below prior peaks," said Zillow Chief Economist Dr. Stan Humphries. "But it will be increasingly difficult for many renters to realize these benefits as this country's growing rental affordability crisis continues to worsen. More income going to rent means less going to savings for a down payment and other costs, keeping renters renting longer and feeding into the high demand that is contributing to rising rents in the first place. This cycle will be difficult to break, and is a symptom of the imbalances that still exist in the housing market as we struggle to get back to normal. New construction and rising wages will help, but neither is coming very quickly." Over the next year, home value growth is expected to slow even further, to 2 percent annually, according to the Zillow Home Value Forecast. In 2014, home values rose 4.9 percent. About Zillow: Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Stan Humphries. In 2015, Dr. Humphries co-wrote and published the New York Times' bestselling "Zillow Talk: The New Rules of Real Estate." Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ: Z), and headquartered in Seattle.
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House Payments More Affordable Than Fair Market Rents in 76 Percent of U.S. Housing Markets in County-Level Analysis
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Home Buying Pays Off Fast, but Hurdles Remain For Renters
SEATTLE, April 8, 2015 -- Even though buyers in most markets can break even on a home purchase in less than two years, nearly half of renters in a newly released survey said their credit or finances keep them from buying a home. Of renters surveyed by Zillow®, 16 percent said they can't qualify for a home loan, 18 percent said they can't afford taxes, maintenance and other costs associated with homeownership, and 13 percent said they don't have enough savings for a down payment. About a quarter said they struggle to pay their rent. According to the survey, 82 percent of renters are long-term renters, and 57 percent are long-term renters who have lived for a long time in the same home. Just 14 percent of renters said they aren't staying long enough in the same place to buy. Zillow's survey sheds light on why some renters are not buying homes, despite historically low interest rates, prices that remain below peak levels in many areas and rising rents. Mortgage math aside, 20 percent of renters said they simply prefer to rent. "If the buy versus rent decision were about simple math, we'd likely have millions more homebuyers in the market, because the equation is tilted heavily in favor of buying," said Zillow Chief Economist Dr. Stan Humphries. "But no matter what the numbers say, buying a home is a huge commitment. Every day, Americans make decisions to buy or rent based on any number of personal dynamics, including preference, flexibility needs, family factors and, yes, financial considerations. There is no right or wrong choice, and it's important that America's housing market maintains a number of affordable options for renters and buyers, no matter their preferences." Over the last year, as home-price appreciation has slowed down, the length of time it takes to break even on a home purchase grew slightly in most major metros. The breakeven analysis looks at how long it takes to come out ahead on a home purchase versus renting the same home, recouping the costs of buying, including taxes and maintenance. Among the top 35 metro areas in the U.S., Dallas-Fort Worth had the lowest breakeven horizon, at 1.2 years. Indianapolis, Ind. and Detroit were next at 1.3 years. The highest breakeven horizons were in Los Angeles, at 5.1 years, Washington D.C. (4.2 years) and San Diego (3.8 years). The national average is 1.9 years. Zillow's breakeven horizon incorporates all costs associated with buying and renting, including upfront payments, closing costs, anticipated monthly rent and mortgage payments, insurance, taxes, utilities, maintenance, and renovation costs. The horizon also factors in home equity growth for buyers, and, for renters, income earned if they invested the same amount of money into an interest-bearing account. It also factors in historic and anticipated home value appreciation rates, rental prices and rental appreciation rates. About Zillow Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Stan Humphries. In 2015, Dr. Humphries co-wrote and published the New York Times' bestselling "Zillow Talk: The New Rules of Real Estate." Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), and headquartered in Seattle.
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NAR Study: Accelerating Housing Costs Have Renters Feeling the Squeeze
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Zillow Rental Network Adds Trulia; Significantly Expands Reach of Largest Rental Network on the Web
SEATTLE, March 10, 2015 -- Zillow Group, which houses a portfolio of the largest and most vibrant rental, real estate and home-related brands on mobile and Web, today announced that Trulia has joined the Zillow® Rental Network. Now, rental property marketers and landlords will have access to Trulia's 55 million monthly unique visitors providing an even larger audience of renters through one marketing platform. As the Zillow Rental Network already attracted the largest audience of rental shoppers on the Web, the addition of Trulia's audience expands this reach even further. "We are incredibly pleased with how quickly we've been able to bring Trulia into the Zillow Rental Network," said Greg Schwartz, Zillow Group chief revenue officer. "Adding Trulia to the Zillow Rental Network brings new opportunities to our multifamily partners and landlords, giving them exposure to a much larger audience while providing a more streamlined customer service experience. Rental shoppers will continue to benefit from two very large and diverse rental sites." Starting today, rental shoppers who visit Trulia or Trulia's mobile apps will have access to hundreds of thousands of rental listings from the Zillow Rental Network. "The Zillow Rental Network has very high standards when it comes to qualified contacts," said Jennifer Staciokas, senior vice president of marketing and training at Pinnacle. "We are excited to see that the Zillow Rental Network is expanding its reach with the addition of Trulia. As a result, we expect our properties will receive even more traffic from better qualified contacts." About Zillow Group Zillow Group (NASDAQ:Z) houses a portfolio of the largest real estate and home-related brands on the Web and mobile. The company's brands focus on all stages of the home lifecycle: renting, buying, selling, financing and home improvement. Zillow Group is committed to empowering consumers with unparalleled data, inspiration and knowledge around homes, and connecting them with the right local professionals to help. The Zillow Group portfolio of consumer brands includes real estate and rental marketplaces Zillow®, Trulia®, StreetEasy® and HotPads®. In addition, Zillow Group works with tens of thousands of real estate agents, lenders and rental professionals, helping them maximize business opportunities and connect to millions of consumers. The company operates a number of brands for real estate, rental and mortgage professionals, including Postlets®, Mortech®, Diverse Solutions®, Market Leader®, ActiveRain® and Retsly™. The company is headquartered in Seattle.
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Experts: Unaffordable Rents Not Going Away Soon
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U.S. Renters Paid $441 Billion in Rent in 2014, Up Nearly $21 Billion Since 2013
SEATTLE, Dec. 30, 2014 -- Americans shelled out $20.6 billion more in rent in 2014 compared to 2013. Cumulatively, U.S. renters paid $441 billion in rent in 2014 compared to $420 billion last year, an increase of nearly five percent (4.9 percent), as both the number of renting households and the average rent rose nationally, according to a Zillow rentals analysis. Locally, the Bay Area, consisting of the San Jose and San Francisco metros, saw the largest jump in cumulative rent paid in 2014, up 14.4 and 13.5 percent respectively. Rent per household in the San Jose, Calif. metro rose by $197 per month, while rent in the San Francisco metro rose by $163 per month. Out of the top 50 largest U.S. metro areas, the largest amount of cumulative rent was paid the New York-Northern New Jersey ($50 billion) and Los Angeles ($34 billion) metros. The smallest amount of cumulative rent was paid by renters in Birmingham, Ala. ($1 billion), Louisville, Ky. ($1.2 billion) and Buffalo, N.Y. ($1.2 billion). Nationally, the total number of renters is estimated to have grown 1.9 percent in 2014. Over the same time period, the median rent paid increased 2.9 percent. "Over the past fourteen years, rents have grown at twice the pace of income due to weak income growth, burgeoning rental demand, and insufficient growth in the supply of rental housing. This has created real opportunities for rental housing owners and investors, but has also been a bitter pill to swallow for tenants, particularly those on an entry-level salary and those would-be buyers struggling to save for a down payment on a home of their own," said Zillow Chief Economist Stan Humphries. "Next year, we expect rents to rise even faster than home values, meaning that another increase in total rent paid similar to that seen this year isn't out of the question. In fact, it's probable." * Data for the 50 largest metros covered in this Zillow rentals report is available. About Zillow: Zillow, Inc. operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow's Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. The Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgages, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Mortech®, HotPads™, StreetEasy® and Retsly™. The company is headquartered in Seattle.
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Renting Less Affordable Than Buying in Most U.S. Markets But Not Where Millennials Are Moving Most
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ForRent.com® Pushes Limits of Today’s Smartphones in Latest Apartment Search Apps
  Norfolk, VA, October 29, 2014 – ForRent.com®, leading online apartment search destination, inspires renters to discover their next apartment, condo, loft or townhouse through innovative search filters that allow for quick and easy narrowing down of choices. The most recently released apps, Sift Rentals™ for iOS, which allows prospective renters to take advantage of the "swipe left for no, swipe right for yes" design, and ApartmentView™ for Android make for quicker, more enjoyable searching. At a time when consumers are overwhelmed with one new app after another, Sift Rentals, available in the Apple App Store, is the easiest way to cut through the "clutter," simply ignoring apartments and homes not of interest and quickly focusing on the ones that are. This makes for a shorter apartment search and a more gratifying experience. Users can explore search results through photos, videos, motion-controlled Google Street View, distance to points of interest, detailed listing information and more. A highly visual app, Sift Rentals includes all ForRent.com inventory as well as Homes.com® rentals. Users can swipe left for "no," hiding the listings in which they are not interested, or swipe right for "yes," saving potential rentals of interest for later viewing, leaving users with a feeling of instant gratification. Additionally, recent searches are automatically saved to make coming. back to listings of interest hassle-free. If a mistake is made, users can simply shake their iPhones to undo. The ApartmentView app, available on Google Play, is a cutting-edge, augmented reality app, currently available for Android and coming soon to iOS. Users simply point their phone's camera at nearby apartments to explore photos, floor plans, prices, amenities and more. The prospective renter can then call or email property management directly from the app if interested. There is also a mini-map feature that works with the slide of a finger in order to increase the search distance. "ForRent.com is committed to providing users with the most engaging and rewarding apartment search experience out there," said Terry Slattery, president of For Rent Media Solutions™. "The newest apps are truly cutting-edge and innovative products of teamwork and the ability to gauge the future landscape of the apartment renting industry. As one of the first to offer such original apartment hunting experiences, ForRent.com is excited to see how these two new apps will assist renters in their apartment shopping journey." To view videos of the Sift Rentals app and the ApartmentView app, visit the ForRent.com YouTube page. About ForRent.com® As one of the nation's leading online home search destinations, ForRent.com® inspires renters to discover their next apartment, loft, townhouse, or condo. ForRent.com features rental listings in a user-friendly format, making finding your next home an easy exploration. Visitors to the ForRent.com blog will discover relevant information and can join the conversation surrounding home decorating style, apartment hunting tips and more. ForRent.com serves as the complete resource for renters in every part of their living experience. About Homes.com® As one of the nation's top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process. Visit Homes.com and download the Homes.com Mobile App, Rentals Mobile App, or Mortgage Calculator to assist in your home search. For home decor tips and more, visit Blog.Homes.com.
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Homes.com® Grows Rental Inventory with Four New Partners
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CoreLogic Launches Online Leasing Solution
  IRVINE, CA, October 03, 2014 – CoreLogic®, a leading global property information, analytics and data-enabled services provider, today introduced Leasing Manager from CoreLogic, a new cloud-based, online leasing solution for multi-family housing owners and managers. Leasing Manager helps fulfill the promise of online leasing software by introducing a simplified application process designed to keep prospective residents online so they complete the application. In response to property owner and manager demand, CoreLogic realized the need for an online leasing solution that streamlined an applicant's workflow, provided a compelling applicant experience, and enabled property managers to configure and customize the user interface to reflect their branding and messaging. Leasing Manager incorporates that functionality so that the applicants can search and apply for apartment homes, initiate screening requests, make payments, review documents and transition to become new residents. The technology makes the leasing agents more productive and shortens the time to revenue for property owners. "Property owners told us that complicated online applications were driving applicants into the leasing office, defeating the purpose of the technology," says Suzette LeSane, vice president of product management and delivery for CoreLogic. "We are introducing a solution that provides a great applicant experience, creates a larger pool of rental candidates, and drives greater conversion from applicant to resident for our clients." Applicants can easily browse real-time vacancies, pricing and other information available through the property's preferred property management platform. Application fees and deposits paid by prospective residents are automatically updated in the property management software ledger and transferred to the property's account. A stand-alone version lets property owners showcase available apartment homes and current rental pricing. Whether fully integrated with leading property management software solutions or used as a stand-alone version, applicants enjoy the same online application, resident credit quality screening and fee payment processes. Leasing Manager is highly configurable at the property level including branding, presentation of community rules and policies, and messages for applicants. Other Benefits of Leasing Manager: A faster application process and greater potential application throughput by collecting the least amount of personal information necessary for the prospective resident to be screened Time savings for the leasing agent and earlier financial commitment to the property by the applicant since application fees and deposits are collected prior to the screening, shortening the time to revenue for the property owner A choice between greater process efficiencies through automated screening or greater personal service through the manual screening option More time for leasing agents to increase revenue by upselling residents on rental items such as parking spaces, storage units and washer/dryers since data entry is performed by the applicant CoreLogic is one of the nation's leading background screening and risk management providers in the multi-family housing industry. For more information, visit www.corelogic.com/leasingmanager. About CoreLogic CoreLogic is a leading global property information, analytics and data-enabled services provider. The company's combined data from public, contributory and proprietary sources includes over 3.5 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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Homes.com® Expands Rental Inventory with AppFolio
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For Rent Media Solutions™ First to Launch Innovative Homepage Experience on ForRent.com®
  Norfolk, Virginia, August 28, 2014 – For Rent Media Solutions (FRMS)™, leading multifamily resource providing marketing solutions for property management companies nationwide, is the first to launch a new web experience on the homepage of ForRent.com®. The ForRent.com homepage video experience (FRVideo), geo-targeted and unique to each local area, provides a richer, more engaging and memorable experience for apartment shoppers. Depending on where the renter is searching for an apartment, the static city photo formerly on the ForRent.com homepage has been replaced with a geo-targeted FRVideo showcasing significant community features and apartment lifestyles. With over 4.4 million people visiting ForRent.com in July, those who come to the homepage will now experience their very own customized local visual tour. Other high-profile companies that offer this compelling virtual tour are PayPal, Spotify, and AirBnB. When a potential renter lands on the ForRent.com homepage, the geo-targeted FRVideo will span the entire width of their browser, enticing them to not only spend more time on the website, but also leave with a positive user experience. Additionally, renters are able to view certain amenities and features right off the bat upon arrival to ForRent.com. This can help renters determine what is important to them when it comes to amenities and features. "For Rent Media Solutions is committed to providing consumers with the most engaging apartment shopping experience possible; our apartment shoppers will have a richer experience on ForRent.com. This translates to increased exposure for customers, ultimately driving more leads and achieving more success for them," said Terry Slattery, president of For Rent Media Solutions and Homes.com®. "As the first media company in the multifamily industry to launch such an innovative apartment search experience, FRMS is excited to see how the allure of the homepage FRVideos will help renters better enjoy their apartment shopping journey." Consistently monitoring the global market for new trends and ideas, FRMS strives to implement those ideas to increase its customers' success. For customers, the benefits of FRVideos are innumerable. With premium placement on the ForRent.com homepage, select apartment communities can now gain impactful exposure to their properties like never before, leaving viewers with a great first impression. View an example of the new FRVideo homepage feature by visiting www.ForRent.com. For more information on the newest and immersive feature from ForRent.com, email [email protected] or visit bit.ly/FRVideo2014 to learn more about FRVideo. About For Rent Media Solutions™ Founded in 1982 as For Rent Magazine®, For Rent Media Solutions™ is headquartered in Norfolk, Virginia, and provides property managers and owners with diverse marketing and advertising products, services and education. These products are easy to use, easy to understand, and designed with renters in mind. For apartment shoppers, For Rent Media Solutions provides robust community listings in a multitude of media, including print, social, online, mobile, video and an extensive distribution network. For Rent Media Solutions publishes 80 magazines covering more than 80 markets nationwide, including AFTER55.com™ A Senior Housing and Care Resource, ForRent.com® Magazine and ForRent.com en Español Revista De Apartamentos. For Rent Media Solutions operates five websites: ForRent.com, AFTER55.com™, CorporateHousing.com®, ForRent.com en Español and ForRentUniversity.com™. Additionally, ForRent.com listings receive exclusive distribution to Homes.com® Rentals. Visit ForRent.com for more information, or visit us on Facebook, Twitter, Google+, YouTube and LinkedIn. About ForRent.com® As one of the nation's leading online home search destinations, ForRent.com® inspires renters to discover their next apartment, loft, townhouse, or condo. ForRent.com features rental listings in a user-friendly format, making finding your next home an easy exploration. Visitors to the ForRent.com blog will discover relevant information and can join the conversation surrounding home decorating style, apartment hunting tips and more. ForRent.com serves as the complete resource for renters in every part of their living experience. Begin your apartment search today with ForRent.com, the ForRent.com mobile app, ForRent.com Magazine or search ForRent.com on YouTube. For decor tips and more, visit ForRent.com/Blog.
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HotPads Unveils Redesigned Site and App to Make Searching for a Rental Faster and More Intuitive
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Local Content is Key, According to New Guide Released by For Rent Media Solutions™ and Homes.com®
NORFOLK, VA, August 11, 2014 -- For Rent Media Solutions™ and Homes.com®, leading real estate marketing resources designed to assist today's apartment and home owners throughout every stage of the rental and owning process, have released the "Rise to the Top: Be the Local Expert" guide to help real estate and multifamily professionals overcome marketing challenges, achieve success, and better understand what being a "local expert" in their communities entails. According to consumer trending research, "local love" is becoming increasingly popular across the nation. For Rent Media Solutions and Homes.com saw an opportunity to share with customers a way to better reach and connect with their clients and increase their business. Rise to the Top: Be the Local Expert not only reveals how important it is to be the local expert in the real estate and multifamily industries, but also includes best practices on how to become that expert. Real estate professionals will gain valuable insights into this unique trend of local love, impactful because of the emphasis it places on communities and the feelings of pride it generates within inhabitants of these communities, through tips and tricks for getting on that local level. Key tips and best practices included in this guide: How to use video to engage customers and, more importantly, how to share that video effectively Marketing best practices for Facebook, Twitter, Instagram, Pinterest and Google+ for real estate professionals to most effectively reach and connect with local renters, buyers and sellers Insights into mobile trends and the influence they have on American consumers and the real estate industry, specifically. With 90% of mobile searches resulting in taking action and over half of those actions resulting in a sale, local mobile is crucial to a real estate professional's marketing strategy Detailed insight into incorporating the latest technology within a business plan, staying on top of prominent search trends, and effectively driving exposure to listings and the local community According to Gary Vaynerchuk, New York Times best-selling author and social media expert, "You must be your town's local newspaper. Everyone's a media company, so the number one thing you should strive for is to become the authority in the local market." Like Vaynerchuk, experts such as Jay Baer, marketing keynote speaker and best-selling author; Jennifer Williams, Digital Marketing Manager, Homes.com; and Michael Krisa, renowned internet marketing consultant, offer their comments throughout the guide, adding another layer of knowledge to the information provided. "Local love is a hot topic recently, and in order to drive more quality leads for our customers, we wanted to share applicable insights with them to engage with customers, both present and potential, and increase their business," said Terry Slattery, president of For Rent Media Solutions and Homes.com. "The dedicated teams at For Rent Media Solutions and Homes.com are fully committed to providing customers with the most up-to-date information essential to gaining exposure to their communities." For an in-depth look at influential trends and constructive tips for rising to the top of your local market, download the "Rise to the Top: Be the Local Expert" guide today! About For Rent Media Solutions™ Founded in 1982 as For Rent Magazine®, For Rent Media Solutions™ is headquartered in Norfolk, Virginia, and provides property managers and owners with diverse marketing and advertising products, services and education. These products are easy to use, easy to understand, and designed with renters in mind. For apartment shoppers, For Rent Media Solutions provides robust community listings in a multitude of media, including print, social, online, mobile, video and an extensive distribution network. For Rent Media Solutions publishes 80 magazines covering more than 80 markets nationwide, including AFTER55.com™ A Senior Housing and Care Resource, ForRent.com® Magazine and ForRent.com en Español Revista De Apartamentos. For Rent Media Solutions operates five websites: ForRent.com, AFTER55.com™, CorporateHousing.com®, ForRent.com en Español and ForRentUniversity.com™. Additionally, ForRent.com listings receive exclusive distribution to Homes.com® Rentals. Visit ForRent.com for more information, or visit us on Facebook, Twitter, Google+, YouTube and LinkedIn. About Homes.com Homes.com is a leading provider of real estate marketing and media services, including brand advertising, property listing exposure and syndication, search engine marketing and instant response lead generation. Homes Connect by Homes.com offers the real estate industry's first-ever, all-inclusive marketing platform for agents and brokers featuring single-login convenience, and the new Homes.com Social offers innovative tools and resources to help real estate professionals save time and simplify social media marketing. Over 10 million consumers visit Homes.com each month to search nearly 3 million properties for sale or rent, to locate real estate agents in their area, and to find useful home buying tips. For more information, visit Homes.com.
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Doorsteps® Swipe App Expands to National Rental Search for iPhone® and iPod touch® Devices
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Zillow to Bring RealPage Services to Rental Companies
SEATTLE, WA, July 21, 2014 -- Zillow, Inc., the leading real estate and home-related marketplace, today announced a new partnership with RealPage, a leading provider of on-demand property management software, to help connect multifamily companies with new residents. This partnership will broaden the marketing exposure for multifamily rental companies that choose to market their rental listings on Zillow®, while providing new tools and services to help them manage their listings and find their new residents more quickly. As part of the agreement, MyNewPlace, RealPage's rental website, will join the Zillow Rental Network, comprised of Zillow.com, Yahoo!® and HotPads™. Under the agreement, multifamily rental companies that market their listings on Zillow will have the option to have their listings appear on MyNewPlace. Zillow will also begin offering RealPage's near real-time pricing and availability information to multifamily companies who also use RealPage products and services. Additionally, all multifamily companies will soon be able to take advantage of RealPage Live Agent Service, which leverages the RealPage Contact Center solution, to help manage incoming contacts. "RealPage's tools and service will bring great value to our multifamily rental customers," said Greg Schwartz, Zillow chief revenue officer. "In addition to bringing more consumers to their listings, property managers will have new tools at their disposal to manage their properties more easily. In turn, this will provide the 15 million rental shoppers who come to Zillow a better experience." "We are very pleased to be partnering with Zillow as this relationship will benefit both RealPage and Zillow users alike," said Steve Winn, CEO of RealPage. "We will continue to market the MyNewPlace Premium service, which compliments the Zillow listings and gives owners and managers even more contacts. By adding pricing, unit availability and, most importantly, a live agent on the other end of each phone and email contact, we are confident that Zillow users will realize increased lead-to-lease conversion rates." About Zillow, Inc. Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow's brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming 83 million unique users in June 2014, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™, StreetEasy® and Retsly™. The company is headquartered in Seattle.
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Realtor.com® Reveals Most Popular Cities for Renters on the Go
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Homes.com Rentals Helps Multifamily Professionals Target Renters
  Norfolk, VA, June 17, 2014 – ForRent.com® and Homes.com® recently revealed the results of their "Rental Profile Insights Survey: A Look at Today's Renter," showing the desire for traditional apartments outweighs the desire for residential rental properties. The survey showcases that it's more important than ever for multi-family professionals to utilize advertising tools to reach the growing number of renters across the country. Targeting consumers searching for apartments, Homes.com has launched Mobile Local & City Banner Ads, providing an innovative advertising solution to the multifamily industry. The Homes.com Rentals Mobile Local & City Banner Ads, exclusive to ForRent.com customers, are dynamic advertising solutions, compatible with iOS and Android devices. The tools provide property managers the ability to consistently and prominently place advertising to highlight their rental community to millions of monthly apartment and rental shoppers visiting the Homes.com Rentals channel. Since its launch earlier this year, these ads have increased awareness and leads for participating property managers with customers in Nevada, Louisiana, New Jersey, Georgia and North and South Carolina, to name a few. "With the local housing market gaining momentum, I was looking for a way to keep our apartment community in the spotlight," said Kory Leighty, NALP, Property Manager, Blankenbaker Crossings Apartments (Louisville, Kentucky). "The solution to my needs was the Homes.com City Ad. This marketing approach allowed me to reach and be visible to a broader group of individuals seeking their next place to call home." "The evolution and success of the Mobile Local & City Banner Ads product is a testament to Homes.com and ForRent.com's exclusive partnership, which is centered on continuously developing innovative solutions that better serve our customers by connecting them to consumers," said Brock MacLean, executive vice president of Homes.com. "As the first in the multifamily industry to develop and launch a rental advertising product of this caliber, clients have direct, real-time access to potential renters via desktop and mobile interfaces on Homes.com. We are thrilled to see so many property managers already benefiting with quality leads and increased awareness of their rental properties." Key features and benefits of the Homes.com Mobile Local & City Banner Ads include: High impact ad positioning with top-anchored placement as user scrolls Click-to-Call functionality for real-time access Hyperlocal reach with targets to city or zip code level Integration with the top property management software applications, including RealPage, RentSentinel, Vaultware, Property Solutions, and RentCafe to name a few, to seamlessly connect leads to third party applications. For more information about this innovative product, stop by the For Rent Media Solutions booth at the National Apartment Association (NAA) Conference in Denver, Colorado June 18-21, or visit bit.ly/HomesRentals. About Homes.com As one of the nation's top online real estate destinations, Homes.com inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features more than 3 million property listings and exclusive distribution of over 20,000 apartment listings from ForRent.com in a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich information and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process. About ForRent.com® As one of the nation's leading online home search destinations, ForRent.com® inspires renters to discover their next apartment, loft, townhouse, or condo. ForRent.com features rental listings in a user-friendly format, making finding your next home an easy exploration. Visitors to the ForRent.com blog will discover relevant information and can join the conversation surrounding home decorating style, apartment hunting tips and more. ForRent.com serves as the complete resource for renters in every part of their living experience.
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Zillow Launches Zillow Rent Connect
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CoreLogic Expands Services In Response to Changing Landlord Dynamics
  IRVINE, CA, April 02, 2014-- CoreLogic®, a leading global property information, analytics, and data-enabled services provider, today announced the expansion of its tenant screening services to deliver enhanced data for rental applicant screenings for single-family rentals and the "small-landlord" market. The expansion of services, offered through myrental.com, leverages the vast CoreLogic public record and proprietary databases to provide unique applicant data for landlords to assess applicant risk and identify those renters who are most likely to fulfill their lease obligations. The myrental.com expansion offers a first-of-its-kind comparison of tenant scores within geographic areas so that landlords can evaluate applicant risk relative to other applicants in the same region. The comparison also provides accept/decline rates for specific tenant scores within the same geographic area so that landlords can make decisions based on relative rental activity. This is particularly useful for independent landlords who may lack access to data and analytics capabilities to assess risk. "It's important that as market needs shift, we respond to accommodate the changing dynamics of the landlord market," said Pam Storm, senior vice president, CoreLogic Specialty Credit. "The growth in the single-family rental market has created a new kind of landlord for whom risk assessment is just as important as for large, multifamily apartment communities. Using data and analytics to make smarter, more informed leasing decisions makes sense for every property owner and manager. Thousands of dollars are at stake. By providing industry-unique analytics tools, and other more targeted data, landlords of any size can manage risk effectively and efficiently." The expanded tenant screening services and enhanced applicant risk score will provide landlords with: Individual credit scores using "credit push" technology that allows applicants to provide quick online approval for landlords to access their credit report. This saves time and money since no site visit is required. Historical data on applicant activity, prior lease obligation performance and previous evictions, going back seven years. Accept and decline rates among other landlords in the same geographic area and comparison tenant scores in order to compare applicants who share the same risk profiles. Automatic and guaranteed acceptance for renters insurance, through third-party underwriters, for qualifying applicants through rentersinsuranceselect.com. Criminal background checks. To accommodate landlords of any size, information and data can be purchased a la carte or bundled in order to provide cost-effective risk assessment based on individual tenant screening requirements. More information is available at myrental.com. About CoreLogic CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services provider. The company's combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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Nearly Half of Renters and Landlords Show Incomplete Understanding of Basic Rental Laws
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Realtor.com® Enhances Rentals App to Offer Location-Based Listing Notifications and iOS 7 AirDrop Sharing
SAN JOSE, Calif., Oct. 22, 2013 -- Today, realtor.com®, the leader in online real estate, operated by Move, Inc., announced an exciting new update to its free realtor.com® rentals app for iPhone, iPod touch and Android. With this enhanced version, users can receive notifications while within close proximity of a rental property they previously visited or marked as saved within the app. The app also offers photo upload and sharing features and has increased its listings by 22 percent since the app launched in May. Additionally, the app for iPhone and iPod touch adds support for iOS 7, becoming one of the first rentals apps to allow users to share content using the new AirDrop capabilities. Users with iOS 7 can use AirDrop feature to efficiently share listings and listing photos with other iPhone or iPod touch users in the same Wi-Fi network. "In the second quarter of 2013, realtor.com® listing detail page views from mobile devices grew about 60 percent year-over-year, and half of our listing detail page views overall occurred on a mobile device," said Scott Boecker, chief product officer at Move. "We understand the crucial role mobile devices play in searching for rental properties, and we continue to implement the latest technology in our app, including location-based listing notifications, so users have a multifaceted tool that simplifies the rental search process." The app extends realtor.com®'s commitment to providing users a comprehensive mobile tool to efficiently search for nearby rental apartments, homes, condos and townhomes, while managing the search process from end to end. With the update, the app can intuitively identify when users are near previously viewed and saved listings and send notifications to users on their iPhone, iPod touch or Android while the app is open. Renters can now use the app to upload photos and take notes while visiting properties and share their listings with friends and family through SMS, email or AirDrop. All photos and notes are saved and stored in the cloud, making it easy for users to access their photos and notes at any time. The rentals app also features 22 percent more listings since it launched earlier this year. The realtor.com® rentals app arms renters with the information they find most valuable, including rich images of listings. Users can filter listings they have viewed directly on a map or in a list, view and filter properties they have contacted and receive notifications when a new rental property fitting their specifications becomes available on realtor.com®. The realtor.com® rentals app delivers fresh, accurate and up-to-date listings as a result of realtor.com®'s unique, direct relationships with thousands of apartment communities and more than 800 multiple listing services (MLSs). With on-the-go access to this robust database and approximately 90 percent of listings updated every 15 minutes, realtor.com® provides the most accurate and comprehensive information in the industry. For more information or to download the free realtor.com® rentals app, please visit http://marketing.realtor.com/rental-app or by directly visiting the App Store or Google Play. About realtor.com® Operated by Move, Inc., (NASDAQ: MOVE), realtor.com® helps connect people with the content, tools and expertise they need to find their perfect home. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make the smartest decisions when it comes to finding a home by leveraging direct connections with more than 800 MLSs to deliver the most accurate and up-to-date listing information in neighborhoods across the country, and by making timely and meaningful connections between consumers and REALTORS®. Whether through desktop, mobile, or tablet versions, realtor.com® is where home happens. About Move, Inc. Move, Inc. (MOVE), the leader in online real estate, operates realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; Doorsteps®, TigerLead®; and TOP PRODUCER® Systems. Move is based in San Jose, Calif.
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Homes.com® Launches Rentals Mobile App for iOS7 and Android
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Homes.com® Expands Rental Footprint into Canada
  NORFOLK, Va. (September 25, 2013) - Homes.com®, a leading online real estate destination and sister site of ForRent.com®, is expanding its rental channel into Canada exclusively through RentSync from Landlord Web Solutions (LWS). LWS is a website design and online marketing company that caters to the Canadian rental industry. Beginning in early October, RentSync listings will be displayed on Homes.com Rentals, giving consumers the opportunity to search for rental listings from numerous Canadian property management companies. "We are thrilled to partner with a premiere Internet listing provider that is a leader in the North American marketplace," said Jason Leonard, co-founder of Landlord Web Solutions. "Homes.com's vision and understanding of the rental marketplace will help us enhance our serviceability to our wide range of diverse customers. They are an innovative Internet listing service with a strong and loyal customer base. We're excited about this partnership." Canadian property managers using RentSync will gain increased visibility and greater distribution for their rental listings on Homes.com and its full line of mobile products. In the coming months, distribution of RentSync listings will expand to Homes.com's sister site, ForRent.com, further increasing visibility of Canadian rental listings. "Homes.com is proud to partner with Landlord Web Solutions to syndicate RentSync listings to Homes.com Rentals in Canada. We are expanding our scope of listing content within the multifamily real estate market across the border," said Brock MacLean, executive vice president of Homes.com. "This new partnership gives Canadian property managers increased exposure for their rental listings, and allows Canadian consumers to easily search for their next house, apartment, condo or townhome on Homes.com." The Homes.com website recently released a cutting-edge parallax design and offers an intuitive map search for a user-friendly experience. Additionally, a "Commute Time" calculator using Bing's map search is available for all listings – giving estimated commute times at the time of search along with driving instructions. Properties on Homes.com are also viewable across the mobile website as well as on the multiple apps created for iOS and Android devices, perfect for conducting on-the-go home searches. Current RentSync customers will receive free syndication to Homes.com until March 2014 as part of a special offer from Landlord Web Solutions. About Homes.com® Rentals As one of North America's top online real estate destinations, Homes.com® Rentals inspires consumers to dream big. From affordable houses to luxurious estates, condos, apartment rentals and more, Homes.com features nearly 3 million property listings and a user-friendly format, making finding your next home easy. Visitors to the Homes.com blog will find a collection of rich content and posts on DIY projects, painting, organization tips and more, providing the ultimate resource for everything home related. From finding your first apartment to buying your first home, upgrading, downsizing and everything in between, Homes.com is an inspiring and engaging partner in every phase of the home buying or renting process. Homes.com is a division of Dominion Enterprises, a leading marketing services and publishing company headquartered in Norfolk, Virginia. For more information, visit www.dominionenterprises.com. About ForRent.com® As one of the nation's leading online home search destinations, ForRent.com® inspires renters to discover their next apartment, loft, townhouse, or condo. ForRent.com features rental listings in a user-friendly format, making finding your next home an easy exploration. Visitors to ForRent.com's apartment living blog, Facebook page, Twitter account and Pinterest boards will discover relevant content and can join the conversation surrounding their home decorating style, rental tips and more, serving as the complete resource for renters in every part of their living experience. About Landlord Web Solutions Landlord Web Solutions (LWS) is a Canadian-based, niche focused website design and online marketing company that caters exclusively to the multi-unit residential rental industry. LWS has quickly become a leader and trusted supplier in the rental housing industry. Over the past number of years, LWS has built outstanding websites and Internet friendly tools for landlords with portfolios ranging from 150 to 24,000+ units in Canada. Visit our website at landlordwebsolutions.com or rentsync.ca for more details.
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Trulia Expands Map Visualizations, Provides the Inside Scoop on Rental Prices and Natural Disaster Risks Across America
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Realtor.com® Launches Rentals App for iOS and Android
SAN JOSE, Calif., May 15, 2013 -- Realtor.com®, the leader in online real estate, operated by Move, Inc., today announced the launch of the realtor.com® rentals app for iOS and Android smartphones. With this new tool, consumers can now search nearby rental apartments, homes, condos and townhomes on their mobile phone, with approximately 90 percent of rentals listings data updated every 15 minutes. The realtor.com® rental app offers consumers a unique user experience through its photo-centric view. To efficiently present the information that many searchers consider most important – property photos – this differentiated view allows users to scroll through rich images directly from the search feed, thereby increasing navigation efficiency and presenting the most important information to consumers first. Users can also filter by listings they have viewed directly on the map or in a list, view and filter by properties they have contacted, as well as get notifications when new rentals fitting your specifications hit realtor.com. Using the app's intuitive tools, renters can sort and filter results that best meet their individual needs, like parking, in-unit laundry, pet-friendly listings and more. Over the last few years, realtor.com® has seen a surge in rental searches, resulting in a 56 percent increase in unique users looking for rentals on the realtor.com® website year-over-year. Consumers are also spending more time reviewing rental property pages on realtor.com® with a 47 percent year-over-year increase in rentals page views on the website. "This increased demand for rentals listings, paired with the demonstrated success of realtor.com® in the mobile space, made launching the realtor.com® rentals application a natural next step," said Scott Boecker, chief product officer at Move. "Realtor.com is focused on helping people love where they live — whether you're buying, selling, or renting a home. The launch of our new rentals app for iOS and Android takes this commitment to the next level, conveniently delivering our rentals experience to users on their handheld devices." In addition to the powerful search tools that the app boasts, the realtor.com® rentals app delivers accurate and up-to-date rental listings. Realtor.com® leverages its unique, direct relationships with more than 800 Multiple Listing Services (MLSs) and thousands of apartment communities to aggregate fresh, accurate listings, empowering renters to search with confidence and efficiency. Approximately 90 percent of the realtor.com® rentals listings are updated every 15 minutes, and the listings feeds are vetted by the realtor.com® team of data quality specialists, to better ensure that the app delivers listings that users can trust. With the realtor.com® rentals app, renters now have access to enhanced features, including: Photo-centric list view, which allows users to view all the images for a rental property right from the search results page Filter listings that have been viewed Quick access to properties that have been saved, updated or contacted Share listings via email or text message Draw a custom search enabling users to highlight an area right on the map Area scout, which populates new listings on the map as your geographic location changes Be notified when new rentals fitting your specifications hit the market and are posted to realtor.com® via push notifications View rentals in a list or on an interactive map that is automatically updated Sort properties by price, proximity, and recently updated Save searches and listings Add notes directly to listings For more information or to download the realtor.com® rentals app for iOS and Android, please visit http://www.realtor.com/rental-app. About realtor.com® Operated by Move, Inc., (NASDAQ: MOVE), realtor.com® helps connect people with the content, tools and expertise they need to find their perfect home. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make the smartest decisions when it comes to finding a home by leveraging direct connections with more than 800 MLSs to deliver the most accurate and up-to-date listing information in neighborhoods across the country, and by making timely and meaningful connections between consumers and REALTORS®. Whether through desktop, mobile, or tablet versions, realtor.com® is where home happens. About Move, Inc. Move, Inc. (MOVE), the leader in online real estate, operates: realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; Doorsteps, TigerLead®; and TOP PRODUCER® Systems. Move is based in San Jose, Calif.
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