Filed under: News
The housing market has come roaring back over the past 12 months and, despite constrained inventory, is set for an uptrend over the next several years, Trulia co-founder and CEO Pete Flint (pictured at left) told CNBC’s “Squawk on the Street.”
“We don’t see significant dollars flow into the system right now, but we fully expect that to happen,” he said. “We feel that we are really at the early stages of a multiyear housing recovery.”
Though the recovery may not be fully apparent to some, with month-over-month home sales remaining flat based on inventory constraints, this month’s Case-Shiller numbers point to a recovery, Flint said. Home construction is weak and sitting far below historical norms, but it’s “a market that is for sure … going to come back,” Flint said.
In its most recent earnings report, the real estate website said it had “cracked the code on mobile monetization.” Flint said Trulia’s mobile audience is growing by more than 120 percent year over year, and subscription products are “performing extremely well.” Founded in 2005, the company was developing as the housing market was in turmoil. The experience “created great discipline, great efficiency,” he said.
Earlier, CNBC’s Jim Cramer called housing one of the hottest sectors in today’s economy, and said that companies like Trulia and Zillow are great plays in the housing gold rush.