Thursday, October 25, 2012
Zillow Adds 1.8M Foreclosed And Pre-Foreclosure Homes To Its Real Estate Listings
Online real estate service Zillow is expanding its real estate listings today by adding “pre-market inventory” — specifically, homes that have either been foreclosed or are in the foreclosure process.
Increasing the selection of available homes is particularly important now, Zillow says, because the inventory of for-sale homes listed on the site has fallen by 20 percent over the past year. The company suggests that there’s already considerable interest from homebuyers in this kind of product, citing a study by the National Association of Realtors, which found that 55 percent of homeowners have considered purchasing a foreclosed home but don’t know how to find those listings or are discouraged by the complexity of the transaction.
Labels: housing recovery