Arno de Vos, a real estate industry expert hailing from Miami Beach who’s known for his sharp understanding of markets, gives his recap of last week’s top stories.
Read about the Google search/Zillow story.
Summary: Recent Google Trends data indicate that the popularity of “Zillow” as a search term surpassed the popularity of the term “real estate” in March and April of this year. Why?
Read about the Move-Zillow lawsuit.
Summary: Last week, a litigation analyst predicted that it was likely that a judge would sanction Zillow and two of its executives for destroying evidence that litigant Move, Inc., alleges contains trade secrets. The executives, former Move employees Errol Samuelson and Curt Beardsley, are accused of taking those trade secrets to Zillow when they both left Move for the portal. Move is asking for almost $2 billion in damages.
Read about the latest Black Knight home price index.
Summary: Home prices in New York, Tennessee and Texas all hit new peaks in February 2016, according to data from Black Knight Financial Services.