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Zillow Launches Home-Improvement Marketplace

Online real estate company Zillow (NASDAQ: Z  ) announced today that it is expanding its services through a new home-improvement platform. Called "Zillow Digs," the new product is currently available as a free app exclusively for iPad and as a Web service.

Zillow Digs offers virtual mockups for remodeling projects, including (proprietary) cost estimates and listings for local home-improvement architects, designers, and contractors.

"Tens of millions of homebuyers shop for homes on Zillow each month, and home improvement is a natural next step for us in consumer empowerment and transparency of information to help people make smarter decisions," said CEO Spencer Rascoff in a statement today.

With this newest addition, Zillow now has mobile and online offerings that span the full homeownership spectrum, from renting to buying to improving one's residence. According to Zillow, more than 75% of homeowners who purchased a home in the past year also completed an improvement project. In 2012, the home-improvement industry accounted for approximately $300 billion in consumer spending.

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