Housing is changing and Zillow is leading the way.The housing market is changing before our eyes, and Zillow (Z 3.26%) is one of the leaders in its disruption. But the path from here to industry domination will take time. Travis Hoium shows the points of progress in the video below.*Stock prices used were end-of-day prices of April 4, 2024. The video was published on May 6, 2024. ...

Key PointsAfter a 12% decline following first quarter 2024 earnings results, Zillow stock could now be a dip-buying opportunity for those with enough vision. Beating expectations came thanks to management's pivot to rentals, helping the company navigate tight real estate markets.NAR commission changes could be cleansing to keep the customer experience top-notch at Zillow.5 stocks we like better than Jefferies Financial GroupAfter reporting its first quarter 2024 earnings results, arguably the most important ...

Financial Data and Key Metrics Changes - Q1 2024 revenue reached $529 million, a 13% year-over-year increase, outperforming the residential real estate market growth of 4% [8][41] - Q1 net loss was $23 million, representing 4% of revenue, while EBITDA was $125 million, resulting in a 24% EBITDA margin, a year-over-year margin expansion of 200 basis points [41][42] - Mortgages revenue increased by 19% year-over-year to $31 million, with purchase loan origination volume growing over 130% year-over-year to $601 million [41][43] Business Line Data and Key Metrics Changes - Residential revenue was $393 million, growing 9% year-over-year, driven by improvements in connection rates and new construction business [41][42] - Rentals revenue grew 31% year-over-year to $97 million, primarily due to a 46% increase in Multifamily revenue [42][43] - The number of Multifamily properties increased to 40,000, up from 37,000 at the end of the previous quarter [9][41] Market Data and Key Metrics Changes - Zillow's audience includes over 217 million average monthly unique users, with 80% of traffic being organic [16] - Zillow Rentals is the most searched rentals marketplace, with a significant lead over competitors [36] - The company estimates it has over 50% of all rental listings in the U.S., with ongoing efforts to increase this share [38] Company Strategy and Development Direction - The company is focused on building a Housing Super App to integrate the moving process, enhancing customer experience across various services [13][21] - Zillow aims to grow its transaction share from 3% to 6% by the end of 2025, with a focus on expanding its enhanced markets [21][22] - The company is investing heavily in technology and partnerships to improve its offerings in both Rentals and Mortgages [19][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to outperform despite a challenging housing market, citing strong execution and strategic investments [7][41] - The anticipated NAR settlement is viewed as a positive evolution for the industry, with Zillow well-positioned to benefit from the changes [14][15] - The company expects continued growth in Rentals and Mortgages, with a focus on enhancing customer experiences and expanding market reach [46][47] Other Important Information - The company has repurchased $100 million of shares year-to-date, reflecting confidence in its financial position [44] - A national marketing campaign for Rentals is set to launch, aimed at increasing brand awareness and driving growth [46][50] Q&A Session Summary Question: Confidence in second half ramp despite residential business slowdown - Management expressed confidence in the second half ramp due to contributions from enhanced markets and continued growth in Rentals and Mortgages [52][54] Question: Managing potential friction with new buyer's agreement - Management sees the new touring agreement as an educational opportunity rather than friction, aiming to improve customer understanding and conversion rates [55][56] Question: Importance of touring in increasing transaction share - Touring is considered critical for connecting high-intent customers with agents, driving higher conversion rates and overall transaction growth [59][61] Question: Multifamily growth lifecycle and its importance - Management highlighted the strategic focus on Multifamily properties as part of a two-sided marketplace, emphasizing the importance of both demand and supply sides [66][70]

Zillow (Z) came out with quarterly earnings of $0.36 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate website operator would post earnings of $0.12 per share when it actually produced earnings of $0.20, delivering a surprise of 66.67%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Zillow, which belongs ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 10-Q _____________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36853 ZILLOW GROUP, INC. (Exact name of registrant as specified in ...

Exhibit 99.2 ZILLOW GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, except share data, which are presented in thousands, and per share data, unaudited) | | | | Three Months Ended | | | --- | --- | --- | --- | --- | | | | | March 31, | | | | | 2024 | | 2023 | | Revenue | $ | 529 | $ | 469 | | Cost of revenue (1) | | 123 | | 92 | | Gross profit | | 406 | | 377 | | Operating expenses: | | | | | | Sales and marketing (1) | | 166 | | 156 | | Technology and development (1) | | 147 | | 13 ...

New Zillow study sheds light on racial disparities in rent affordability as well as a nationwide shortfall in housing assistance BIPOC households in the U.S. typically spend 34% of their income on rent compared to 29% for the typical white renter household. Roughly 19 million U.S. households qualify for housing choice vouchers based on their income, but only 2.4 million vouchers are available. Zillow recently launched a new listing feature that helps inform renters of their rights and how to report source-o ...

Although fair housing laws — which ensure equal and nondiscriminatory access to housing — have been in place for nearly 60 years, discrimination remains a stubborn factor in housing, Zillow's latest Housing Aspirations Report shows. The survey found a majority of respondents (57%) reported experiencing some kind of housing discrimination, with groups such as LGBTQ+ populations reporting discrimination at higher rates. However, overall, only 42% of respondents reported that fair housing impacts them or the ...

"The introduction of Showcase listings on Zillow has been a game changer for sellers — it represents the future of property listings on the most visited real estate website in the U.S.," said Zillow Chief Operating Officer Jeremy Wacksman. "And it's quite clear Showcase listings both attract shoppers and help sellers net a higher asking price. In today's spring shopping season, well-marketed and well-priced homes move quickly, and Showcase is helping to do just that." As the selling season gets into full sw ...

Inventory and rate lock are deciding factors in market competition this spring Competition is stiff for attractive listings; homes that sold in March did so in just 13 days.  Seasonal home value growth is fastest in the most expensive major metros — all West Coast tech hubs. More than 1 in 5 sellers cut prices in March, the highest share in more than a decade. SEATTLE, April 15, 2024 /PRNewswire/ -- Those shopping for homes this spring are feeling vastly different levels of market heat depending on where th ...