Largest U.S. Cities Continue to Be Plagued by Home Price Reductions According to Trulia's August Price Reduction Report

SAN FRANCISCO, CA--(Marketwire - August 14, 2009) - Trulia, Inc. (www.trulia.com), the best
place to start your real estate
search, today announced that 25 percent of homes currently on the
market in the United States as of August 1, 2009 have experienced at least
one price cut. The percentage of price reductions has continued to increase
month-over-month for the past three months. The total value slashed off
active listings now totals $27.8 billion. Major metros across the U.S.
continue to be the hardest hit with 66 percent of the top 50 markets having
percentage-of-price-reduction levels above the national average. Discounts
for price-reduced homes has slightly decreased to an average of 10 percent
off of the original listing price compared to an average of 10.6 percent
off of the original listing price in June 2009.

While home sellers in several cities are beginning to price more
aggressively, and forgo the need for price reductions, many continue to
ignore market conditions and over-price their homes. Jacksonville retains
the top spot for highest levels of price reductions for the third
consecutive month with 38 percent of current listings experiencing at least
one round of discounts. Additionally, Boston, Milwaukee and Minneapolis all
placed in the top five nationally with the highest percentage of reductions
for the second straight month.

"We are excited to see industry reports showing positive signs in the real
estate industry, but there is still a long way to go before we'll see a
real recovery for the U.S. as a whole. Even as the volume of sales are
starting to rise nationally, the median home price continues to fall," said
Pete Flint, Trulia co-founder and CEO. "The reality is, today's sellers
need to price aggressively to avoid reductions. Consumers are looking for
value and when they find a good deal, they are taking advantage of market
conditions."

Cities experiencing significant increases in percentage of listings with
price reductions from June 2009 to August 2009 include:

-- Fresno, CA - 67% increase in price reductions
-- Colorado Springs, CO - 27% increase in price reductions
-- Kansas City, MO - 25% increase in price reductions
-- Oklahoma City, OK - 24% increase in price reductions
-- Albuquerque, NM - 22% increase in price reductions

Cities showing signs of recovery with significant declines in percentage of
listing with price reduction from June 2009 to August 2009 include:

-- Dallas, TX - 42% fewer price reductions
-- Las Vegas, NV - 33% fewer price reductions
-- Louisville, KY - 33% fewer price reductions
-- Los Angeles, CA - 19% fewer price reductions
-- Washington D.C. - 17% fewer price reductions

Luxury Market Getting Hit Hard

Luxury homes (those listed at $2 million and above) continue to bear the
brunt of discounts being offered with an average of 14 percent being
slashed from the original asking price compared to the national average of
10 percent. Additionally, luxury homes represent barely two percent of all
current listings on Trulia, but are responsible for 25 percent of the $27.8
billion in home price reductions.

August Price Reductions - Top 50 U.S. Cities

Percent of
Listings Average
with Price Reduction Total Amount of
Rank City State Reductions (%) Reductions
==== ================ ===== ========== ========= ===============
1 Jacksonville FL 38% 11% $ 109,292,808
---- ---------------- ----- ---------- --------- ---------------
2 Boston OR 35% 9% $ 56,833,504
---- ---------------- ----- ---------- --------- ---------------
3 Milwaukee WI 34% 8% $ 19,053,276
---- ---------------- ----- ---------- --------- ---------------
4 Minneapolis MN 34% 9% $ 25,641,504
---- ---------------- ----- ---------- --------- ---------------
5 Boston MA 34% 8% $ 51,887,832
---- ---------------- ----- ---------- --------- ---------------
6 Seattle WA 34% 8% $ 67,896,023
---- ---------------- ----- ---------- --------- ---------------
7 Albuquerque NM 33% 7% $ 26,967,636
---- ---------------- ----- ---------- --------- ---------------
8 Chicago IL 33% 9% $ 245,661,105
---- ---------------- ----- ---------- --------- ---------------
9 Indianapolis IN 32% 8% $ 32,293,646
---- ---------------- ----- ---------- --------- ---------------
10 Raleigh NC 32% 7% $ 39,416,328
---- ---------------- ----- ---------- --------- ---------------
11 Baltimore MD 32% 11% $ 41,367,984
---- ---------------- ----- ---------- --------- ---------------
12 Columbus OH 32% 9% $ 18,434,080
---- ---------------- ----- ---------- --------- ---------------
13 Memphis TN 32% 9% $ 24,687,432
---- ---------------- ----- ---------- --------- ---------------
14 Honolulu HI 32% 10% $ 49,733,985
---- ---------------- ----- ---------- --------- ---------------
15 New York NY 31% 13% $ 975,823,368
---- ---------------- ----- ---------- --------- ---------------
16 Austin TX 31% 8% $ 111,271,347
---- ---------------- ----- ---------- --------- ---------------
17 Charlotte NC 31% 8% $ 91,813,500
---- ---------------- ----- ---------- --------- ---------------
18 Nashville TN 30% 7% $ 27,092,548
---- ---------------- ----- ---------- --------- ---------------
19 San Francisco CA 29% 12% $ 98,367,841
---- ---------------- ----- ---------- --------- ---------------
20 Tucson AZ 29% 10% $ 68,994,021
---- ---------------- ----- ---------- --------- ---------------
21 Atlanta GA 28% 11% $ 182,908,054
---- ---------------- ----- ---------- --------- ---------------
22 Colorado Springs CO 28% 7% $ 27,994,590
---- ---------------- ----- ---------- --------- ---------------
23 Miami FL 27% 15% $ 241,347,648
---- ---------------- ----- ---------- --------- ---------------
24 Sacramento CA 27% 11% $ 18,500,794
---- ---------------- ----- ---------- --------- ---------------
25 Long Beach CA 27% 11% $ 30,755,496
---- ---------------- ----- ---------- --------- ---------------
26 Tulsa OK 27% 6% $ 12,295,404
---- ---------------- ----- ---------- --------- ---------------
27 Omaha NE 27% 6% $ 12,040,319
---- ---------------- ----- ---------- --------- ---------------
28 Phoenix AZ 26% 13% $ 84,109,665
---- ---------------- ----- ---------- --------- ---------------
29 Philadelphia PA 26% 8% $ 49,731,744
---- ---------------- ----- ---------- --------- ---------------
30 Mesa AZ 26% 13% $ 22,494,320
---- ---------------- ----- ---------- --------- ---------------
31 Los Angeles CA 26% 12% $ 251,072,040
---- ---------------- ----- ---------- --------- ---------------
32 Oklahoma City OK 26% 6% $ 8,963,910
---- ---------------- ----- ---------- --------- ---------------
33 Virginia Beach VA 26% 8% $ 32,580,954
---- ---------------- ----- ---------- --------- ---------------
34 Kansas City MO 25% 8% $ 19,582,200
---- ---------------- ----- ---------- --------- ---------------
35 San Jose CA 25% 9% $ 31,123,090
---- ---------------- ----- ---------- --------- ---------------
36 Washington DC 25% 10% $ 58,717,344
---- ---------------- ----- ---------- --------- ---------------
37 Fresno CA 25% 11% $ 9,092,972
---- ---------------- ----- ---------- --------- ---------------
38 Oakland CA 24% 10% $ 11,064,302
---- ---------------- ----- ---------- --------- ---------------
39 Cleveland OH 23% 11% $ 8,438,192
---- ---------------- ----- ---------- --------- ---------------
40 San Antonio TX 22% 7% $ 51,026,646
---- ---------------- ----- ---------- --------- ---------------
41 El Paso TX 22% 7% $ 13,996,080
---- ---------------- ----- ---------- --------- ---------------
42 Denver CO 21% 9% $ 44,730,360
---- ---------------- ----- ---------- --------- ---------------
43 Las Vegas NV 20% 16% $ 163,680,855
---- ---------------- ----- ---------- --------- ---------------
44 Houston TX 19% 8% $ 49,285,116
---- ---------------- ----- ---------- --------- ---------------
45 San Diego CA 18% 10% $ 59,189,418
---- ---------------- ----- ---------- --------- ---------------
46 Dallas TX 18% 9% $ 79,597,978
---- ---------------- ----- ---------- --------- ---------------
47 Arlington TX 17% 6% $ 4,002,345
---- ---------------- ----- ---------- --------- ---------------
48 Detroit MI 17% 22% $ 11,107,782
---- ---------------- ----- ---------- --------- ---------------
49 Fort Worth TX 17% 7% $ 12,845,904
---- ---------------- ----- ---------- --------- ---------------
50 Louisville KY 14% 7% $ 6,356,070
==== ================ ===== ========== ========= ===============

Trulia Price Reductions

Trulia is the first and only real estate
site to provide consumers with the ability to use price reductions as a
search filter in their quest to find a deal in today's market across all 50
states. Trulia's Price Reduction
feature can be accessed from the Trulia homepage and is deeply integrated
into the existing search experience on the search results page and via the
advanced search tab. Detailed information regarding multiple price
reductions and prior sold data is now available on each property listing
page.

Providing home buyers with access to price reduction data will help them be
better informed as they decide which home to purchase and will help ensure
consumers get the most home for their dollar. It will also help home sellers price their homes
competitively as more homes come onto the market.

Charts are available for download at:
http://www.trulia.com/info/august09pricereductions

Customized data is available for the media by contacting pr@trulia.com

Methodology: All price change data is from live listings on Trulia.com, as
of August 1, 2009 and tracks all price reductions from August 1, 2008 to
August 1, 2009. This data does not include foreclosure properties. Trulia
obtains its listing information from brokers, agents, third party
aggregators and MLSs. The percentage of listings with price reductions
includes any non-foreclosure property on Trulia.com that has experienced at
least one price reduction since it was first posted on the site. The city
level data is for listings within the city boundary, and not for metro
areas.

About Trulia, Inc.

Trulia, Inc. has revolutionized real estate search by offering a rich,
intuitive user experience to help consumers find homes for sale, track local price trends,
compare properties and neighborhood
data all at the hyper-local level. Trulia Voices, the largest real estate community on the web,
allows home buyers, sellers, agents and real estate enthusiasts to ask
questions, receive advice and blog on topics such as the buying and selling
process, foreclosures, refinancing and more. Trulia's user-friendly
search can also be accessed on more than 170 websites as a result of our
media partnerships. Trulia has received a number of awards, including the
2009 Webby Award for real estate. For
more information, visit http://www.trulia.com/.