Luxury Connect
Meet the Luxury Leaders | October 19-20 | Beverly Hills

CORRECTION: The original version of this article contained a spelling error and has been corrected. Zillow's Yeng Bun wrote a post at the Zillow Real Estate Research Blog site describing the new Zillow Rent Index.Online real estate research and listing site Zillow launched a new rent index, the counterpart to its estimated home values index, on Tuesday. The inaugural release of the index shows that median rents rose 3 percent year over year in January. "We haven't had a good way to quantify what is happening with rental rates until now, and the inaugural Zillow Rent Index shows us a healthy and growing rental market across the majority of the country, even as home values continue to fall," said Zillow Chief Economist Stan Humphries. As with Zillow's "Zestimates," whi...