Residential real estate is hot, and we saw that when Ellie Mae -- a fast-growing provider of mortgage industry solutions -- posted blowout quarterly results on Tuesday night.
However, websites specializing in real estate are growing even faster. Trulia posted monster growth on Tuesday night. Revenue soared 97% as the average of monthly visitors rose 52% to 31.4 million. Trulia did post a wider loss than Wall Street was expecting, but the top-line growth is what Zillow and Realtor.com parent Move investors are applauding.
Move reports on Thursday night. Zillow posts its quarterly results next week.
In this video, longtime Fool contributor Rick Munarriz discusses why Trulia's strong top-line growth showing and its robust guidance for the current quarter bode well for Move and Zillow.
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The article What's Good for Trulia Is Good for Zillow originally appeared on Fool.com.
Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends Ellie Mae and Zillow. The Motley Fool owns shares of Ellie Mae and Zillow. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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