Here is what investors need to know about the launch.

Alphabet stock is trading at elevated levels. Where are GOOGL shares going?

Google Enhances Local Services Ads For Real Estate SearchZillow Stock Impacted by Alphabet's Earlier Pilot TestThose initial test listings prominently featured complete property detail pages alongside immediate options to contact agents or request a home tour.Competitive Headwinds For Zillow, Redfin and Legacy PortalsCompetitor Price ActionHere is how the market is reacting to the news during Thursday afternoon trading:

Zillow Group: The stock price is currently trading at $32.14, reflecting a daily decline of 5.26%.

Fox Corp: The stock is currently trading at $68.41, showing a modest daily gain of 0.60%.