Google launched an enhanced version of its Local Services Ads for residential real estate across all 50 U.S. states on June 11. This nationwide expansion follows a limited pilot program and allows users to view property details directly within search results. Potential homebuyers can connect with real estate agents through the platform. Real estate data provider HouseCanary powers these listings.
The announcement triggered a sell-off for established online real estate platforms. Shares of CoStar Group (CSGP) and Zillow (Z) both declined by approximately 4% to 5%. Investors expressed concern that Google’s search dominance threatens incumbents like Zillow and CoStar’s Homes.com. This move positions Google as a formidable competitor in the residential advertising market.