Report: Zillow Seeking to Acquire Trulia

Updated.

Real estate website Zillow is reportedly making moves to acquire rival site Trulia in a deal that could see the merging of two of the country's most popular online real estate resources.

Citing people with knowledge of the potential deal, Bloomberg reported Thursday that Zillow may value Trulia at as much as $2 billion, two-thirds of which may be paid in its own stock. While talks are still ongoing, an agreement—if reached—is expected to be announced as early as next week.

Though unconfirmed, the speculation sent shares at both companies up.

If a deal is struck, the combined companies could create a force to be reckoned with in real estate online, an arena that is also occupied by companies like Redfin and Realtor.com (operated by Move, Inc.)

According to Bloomberg's estimates, Trulia's revenue is expected to increase by 76 percent this year to $253 million, while Zillow's annual revenue is forecast to climb 58 percent to $311 million. Both sites have seen shares improve in value as the housing market heads out of its post-recession trough.

A spokesperson for Zillow said the company doesn't comment on rumors. Representatives for Trulia could not be reached immediately.