Trulia Reports Growing Foreign Interest in Los Angeles and San Francisco, but Declines in Miami and Las Vegas

  Trulia Reports Growing Foreign Interest in Los Angeles and San Francisco,
  but Declines in Miami and Las Vegas

Unfazed by Rising Home Prices, U.S. Home Searches from Asia and Africa on the
                                     Rise

Business Wire

SAN FRANCISCO -- June 19, 2013

Trulia, Inc.(NYSE: TRLA), a leading online marketplace for homebuyers,
sellers, renters, andreal estate professionals, today published its
International House Hunter Report, which provides the inside scoop on current
foreign interest in the U.S. housing market. Based on all home searches on
Trulia between April 1, 2012, and March 31, 2013, this report tracks which
U.S. metropolitan areas prospective foreign home searchers are looking at and
how that has changed during the past year. Check out the full report here.

Top 10 U.S. Housing Markets for International House Hunters

Foreign homebuyers remain big players in many U.S. housing markets, even as
asking home prices rose 9.5 percent year-over-year (Y-o-Y) in May. Florida
remains the most popular real estate market but has recently become less
attractive as home prices recover. Of the 10 housing markets with the highest
share of searches on Trulia coming from outside the U.S., eight are on the
decline. Only in Los Angeles and San Francisco did the foreign share of search
traffic rise in the past year.

                                              Share of Home      Y-o-Y Change
#         U.S. Metro                        Searches          in
                                              from Outside       Foreign
                                              the U.S.           Search Share
1          Miami, FL                          14%                -4%
2          Los Angeles, CA                    13%                4%
3          Fort Lauderdale, FL                12%                -9%
4          West Palm Beach, FL                10%                -12%
5          Honolulu, HI                       10%                -17%
6          Orlando, FL                        10%                -9%
7          San Francisco, CA                  9%                 2%
8          Cape Coral-Fort Myers, FL          9%                 -13%
9          Lakeland-Winter Haven, FL          9%                 -18%
10         Las Vegas, NV                      8%                 -4%
Note: Share of home searches from outside the U.S. is the percent of all
searches on Trulia in each metro area that come from outside the United
States.


Not All Foreigners Turned Off By Rising Home Prices

With the U.S. housing market in recovery, foreign interest in American real
estate appears to be declining, but diversifying. Today, foreigners account
for 4.3 percent of all the home searches on Trulia – down slightly from 4.4
percent the previous year. The largest share of foreign home searches over the
past one-year period came from Canada (19 percent), the United Kingdom (9
percent), and Germany (5 percent), but interest has fallen or stagnated in
these North American and European countries. However, home searches are on the
rise from lower- and middle-income countries with strong economic growth and
stronger spending power. In the past year, the share of searches from Nigeria,
India, Russia, the Philippines, and China all leapt by more than 15 percent
Y-o-Y.

America’s Global Neighborhoods: Bel Air, Tribeca, Brickell

International house hunters often concentrate their home searches in the most
famous and expensive neighborhoods in town. For instance, 41 percent of
searches in the Bel Air neighborhood of Los Angeles come from other countries,
compared with 13 percent of searches in the overall Los Angeles metro area. Of
the top 10 ZIP codes ranked by their share of foreign searches, four are on
the west side of Los Angeles, three are in Manhattan, one is Miami, and two
are in the Lakeland-Winter Haven metro in Central Florida.

                                                                   Share of
                                                                   Home
#       ZIP Code     Neighborhood          U.S. Metro          Searches
                                                                   from
                                                                   Outside the
                                                                   U.S.
1        90077         Bel Air                Los Angeles, CA      41%
2        90210         Beverly Hills          Los Angeles, CA      38%
3        90069         West Hollywood /       Los Angeles, CA      34%
                       Sunset Blvd
4        33131         Brickell Ave /         Miami, FL            29%
                       Brickell Key
5        10013         Tribeca / Little       New York, NY-NJ      28%
                       Italy
6        10007         World Trade Center     New York, NY-NJ      28%
                       / City Hall
7        33897         Davenport              Lakeland-Winter      28%
                                              Haven, FL
8        90265         Malibu                 Los Angeles, CA      28%
9        33896         Davenport              Lakeland-Winter      28%
                                              Haven, FL
10       10019         Midtown / West         New York, NY-NJ      27%
                       50’s
Note: Share of home searches from outside the U.S. is the percent of all the
searches on Trulia in the ZIP code that come from outside the United States.


PRE-APPROVED QUOTES

  *“People from all corners of the globe are looking at U.S. homes,” said Jed
    Kolko, Trulia’s Chief Economist. “Even though foreigners are a declining
    share of all home searches, foreign interest is becoming more diverse.
    More searches are coming from rapidly-growing developing countries,
    especially in Asia and Africa.”
  *“Foreigners are drawn to the rich-and-famous neighborhoods,” said Jed
    Kolko, Trulia’s Chief Economist. “In some of the priciest neighborhoods in
    New York, Los Angeles, and Miami, more than one quarter of home searches
    come from other countries. But most Americans live in neighborhoods that
    lack worldwide name recognition. In most neighborhoods, foreigners account
    for less than 3 percent of home searches.”

ABOUT TRULIA, INC.

Trulia(NYSE: TRLA) gives home buyers, sellers, owners, and renters the inside
scoopon properties, places, and real estateprofessionals. Trulia has unique
info on the areas people want to live that can't be found anywhere else: users
can learn about agents, neighborhoods, schools,crime, commute times, and even
ask thelocal community questions. Real estate professionalsuse Trulia to
connect with millions of transaction-ready buyers and sellers each month via
our hyperlocal advertising services, social recommendations, and
top-ratedmobile real estate apps. Trulia is headquartered in downtown San
Francisco. Trulia is a registered trademark of Trulia, Inc.

Contact:

Trulia, Inc.
Daisy Kong, 415-400-7391
pr@trulia.com
 
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