(Source: Bloomberg Business Week)
Trulia Inc., the San Francisco-based provider of home-sales information, said it will begin listing U.S. apartment rentals as high unemployment and a rise in foreclosures lead many people to lease rather than buy.
Trulia today will add more than 1 million rentals to its Web site alongside the 3.5 million homes for sale already listed, the company said in a statement. Users will be able to compare the costs of renting and buying, as well as rate neighborhoods on parking, cleanliness, public transportation and safety, Trulia said.
Home sales and values have been hurt by U.S. unemployment of 9.7 percent, close to the 26-year high of 10.1 percent reached in October. A total of 308,524 properties received a foreclosure filing in February, up 6 percent from a year earlier, according to RealtyTrac Inc. in Irvine, California. Zillow.com, a Trulia competitor based in Seattle, began listing rental properties in December.
Read the full article, “Trulia Adds Rental Listings Following Drop in U.S. Home Values” at Bloomberg BusinessWeek (April 07, 2010).