Seeking Alpha

Zillow higher after deal with China's E-House; Trulia also up

  • Looking to target Chinese investors pouring billions into U.S. real estate, Zillow (Z +1%) is partnering with E-House's (EJ -0.9%) Leju unit to create a co-branded website for Leju visitors searching for U.S. properties.
  • The site launches in early summer, and will provide access to Zillow's listings, search platform, and home data. The companies note Chinese buyers spent an estimated $11B on U.S. homes in the 12 months ending March 2013, with an average purchase price of $425K.
  • Zillow is trading higher, as is rival Trulia (TRLA +2.4%). The announcement comes four weeks after Leju filed for an IPO, and two weeks after Tencent agreed to buy a 15% stake.
Comments (1)
  • Tim Cunningham
    , contributor
    Comments (61) | Send Message
     
    I love EJ at $10 area. Sell off is a little much here.
    7 Apr, 10:33 PM Reply Like
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