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Trulia CEO Pete Flint on the outlook for the housing market and the company’s new app.
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Are we really seeing a trend with that news.
Are you feeling more inspired to move perhaps to a new city -- -- LA or San Francisco San Francisco maybe you decide to turn the web.
-- -- as really the opportunity to find something that you -- afford right but where do you look Trulia is a website that's hoping you count on them.
Not sure how Lotto ticket to get to -- from your job here potential -- -- truly is inter active commuter about what this.
It will help you -- exactly with that what about crime nobody wants to live.
Close to them.
The district where there's a lot of cry I am right OK what about safety map for that what about where you should go to eat it's their whole foods near you the jam.
-- after that.
Your kids.
Don't we all want to send our kids to good schools how far -- -- the schools there's a map for that so how is truly -- using social media.
To get ahead in the real estate business and to make money because they're publicly traded -- -- the investors want to know there is an app for that to Pete Wentz.
Truly a co-founder and CEO.
-- -- first on Fox Business interview.
Good housing numbers today good construction numbers.
Although you -- seen it coming couldn't you I mean you almost and away at your website or predictor of what these data points are really gonna look like right.
Yes so we have an amazing view of the housing markets and we see.
With your decision whether or not -- selling will start selling the -- some -- the few -- but we sold not only is the housing market recovering but it's accelerating.
Just seeing this price -- stopped aggressively so in December up.
About 5% -- -- via.
And we see numbers of markets -- -- markets like Seattle Las Vegas around the Bay Area -- the typically.
Have seen over the last company is seen.
Double digit digit declines they I was coming back biggest things like -- kind of disaster it's not an and wait this is kind of breaking news or use seeing better.
Listings and better interest in -- -- now.
Yes -- -- -- in just a few months ago we saw while 2000 that was a tough year began the last thing as -- house prices.
Rebound in and -- -- which is.
You know I think K great -- favourable markets have a -- -- housing markets have been hit hardest like California.
Like that that southwest they had now stunt to rebound.
-- what what we're trying to point out here is that truly is almost in a good way the canary in the coal mine eat you start to see more page views on your September about page views.
Working I guess comparatively to past couple years which have probably been a little dismal.
Yes and engagement is is simple high right now I think that.
The China's -- -- of the house -- -- speak to realtors and and Americas but challenges in the tree.
So while considered much not enough I'll say this has been a big change you -- you go back in the days of 20092010.
Huge amounts of image on the market.
Properties in the market for months and months and months.
And now you've got to -- -- -- entry and they as the market is coming down in the particularly these markets stunted growth in the sink -- -- -- constraints and that's a good thing.
Pissed off to push up home prices which is great for the industry great for Trulia and that would encourage a lot more -- sellers to put behind.
But he most recently relatively recently went public -- you're you're now answering to shareholders were saying.
Excuse me how are -- making money Peter we need to know so how are you monetize in what is your best new idea and I know what involves an app.
But specifically.
For the actual agents were listed.
-- -- let business model is in two forms one -- -- services to real estate professionals so wages com want to Trulia.
And they can -- promote themselves generate more -- -- and more visibility.
And we have services to them -- set services agency used mobile applications and think about it Melissa professionals are out on the go this selling houses.
And that then you look at why perhaps Smartphones say they don't have time to -- the that's -- -- on technology.
Is transforming the role of real estate agents within that the entire -- the other piece that business -- media.
And -- seen the numbers of from billed as -- the home constructions thus increasing significantly.
Now the more homes new homes -- -- the sale the better it is for our business because they market themselves on Trulia obviously growth -- marketing across the board.
All right so here you see the home builder stocks in building permits start to move up but had to have we've really looked -- we just saw a couple of months chart of of truly and -- -- -- -- and then it started to move up.
So as tight as I'm pushing here because I think its interest think you guys are are perhaps a little bit of a predictor tell -- what else besides -- pointed out Vegas.
What else are you seeing that it that can give our viewers sort of an early read early bead on the next move.
Second this will also look at her impressive look at it also look at rentals so we have a big part of our business has rentals have been looking -- not -- Is it in a lot of consumers right now -- like.
It's fine -- -- either have been scared off levels go on the housing market the last company is should I rent should -- bias to -- that's.
Not only -- -- prices increase will sustain rental increases as well that's another moving in tandem -- -- -- -- -- But you know -- a lot of our staff when we were talking about you coming on the show we -- people -- all my friends from college when they got out into the working world started looking on Trulia for how to find an apartment.
Everybody was using you guys are you -- competitor out there that's a little bit bigger zillow and and how do you convince that.
People out there that you should be the choice vs a one.
-- -- You -- today that bidding at beginning segments that we provide unique tools to help consumers don't despite -- -- about president to sell or off market but -- -- the insights keeps that.
Enormous amounts -- user generated content the largest of its kind in the industry.
Commute maps crime maps all this.
-- a -- listings or importer of the whole foods come Montpelier a etc.
I'm not a third from the consumer side that's critical to -- incest or to states.
And then these my about applications and applications in the area I was need to know -- the frozen you know replaces Peter thank you Meyers Josh and by the -- came up with the idea.
Eight years ago when he couldn't find all these data points out where he was trying to prove thank you good luck to you my pleasure how Peter -- Trulia co-founder and CEO the closing bell it.
