Zillow Group, Inc. (NASDAQ:Z) Q4 2023 Earnings Conference Call February 13, 2024 5:00 PM ET Company Participants Bradley Berning - VP of IR Rich Barton - Co-Founder and CEO Jeremy Wacksman - COO Jeremy Hofmann - CFO Conference Call Participants John Campbell - Stephens Inc. Bradley Erickson - RBC Mark Mahaney - Evercore Ryan McKeveny - Zelman & Associates Thomas Champion - Piper Sandler Ronald Josey - Citigroup Operator Good afternoon. My name is Siarah and I'll be your conference operator for today. At thi ...

As the cost of independence rises, Zillow offers a fresh solution for those flying solo The "singles tax" increased this year, now standing at $7,110. Cohabitating renters collectively save $14,220 annually on average by living together, but that can be as much as $40,200 in New York City. Zillow users can now list and search for individual rooms for rent, reducing housing expenses by finding a roommate to share costs. SEATTLE, Feb. 12, 2024 /PRNewswire/ -- Zillow's latest findings reveal a steep "singles t ...

Core Insights - Gen Z prioritizes job opportunities and climate over affordability when relocating, with California being a top destination despite high outbound migration [1][2] - Texas experienced the highest net gain of Gen Z movers, totaling over 76,000, followed by California and Florida [2][3] Migration Trends - In 2022, California saw nearly 215,000 movers leave, yet gained approximately 44,000 Gen Z adults [1] - Other states with significant Gen Z migration include Washington, Colorado, and Virginia, which are generally more expensive [1][2] - Michigan, Maryland, and Idaho had the lowest net migration of Gen Z, with Michigan seeing more departures than arrivals [3] Rental Market Insights - 77% of Gen Z adults moving to pricier states are renting, with California having the highest median rent at $1,856 per month [2] - Median rental prices in other states include Washington at $1,592, Colorado at $1,594, and Virginia at $1,440, all above the national median of $1,300 [2] Demographic Characteristics - Gen Z movers to states like California, Washington, Colorado, and Virginia are more likely to hold a four-year college degree, serve in the military, and work in tech [2]

Core Insights - Zillow has launched a new feature allowing users to search for or list individual rooms for rent, addressing the rising rental costs in the U.S. since the pandemic [1][2] - The company highlights that nearly 30% increase in U.S. rents and 50% of renters are now cost-burdened, spending 30% or more of their income on rent and utilities [1] - The introduction of room listings aims to create a more diverse marketplace for renters, particularly benefiting younger renters who make up over half of the U.S. rental market [2] Summary by Sections New Feature Introduction - Zillow's platform now includes the option for users to search for or list individual rooms for rent, catering to the needs of those seeking shared living spaces [1][2] - This feature is timely given the significant rise in rental costs, with rents reported to be 6.5% higher than a year ago [1] Benefits for Renters and Homeowners - The new room listing option is designed to help renters find roommates, which can alleviate financial burdens associated with high rental costs [2] - Homeowners can benefit by listing available rooms to reduce mortgage expenses, providing a flexible property management solution [2] Credit History Initiative - Zillow has introduced a feature that allows renters to build their credit history at no cost, with on-time rent payments reported to Experian [3] - This initiative aims to address the issue of unreported rent payments, which affects 26 million Americans who lack a credit history [3]

Conference call to be webcast live at 2 p.m. PT / 5 p.m. ET SEATTLE, Jan. 22, 2024 /PRNewswire/ -- Zillow Group, Inc. (Nasdaq: Z and ZG) announced today it will release fourth-quarter and full-year 2023 financial results after market close on Tuesday, Feb. 13, 2024. The company will host a conference call and webcast to discuss its results that afternoon at 2 p.m. PT / 5 p.m. ET. Information about Zillow Group's financial results, including a link to the live webcast and recorded replay, will be available o ...

Zillow's rent reporting program is rooted in the recognition of a significant gap in credit reporting. Despite renters in the U.S. spending hundreds of billions of dollars annually on rent, these substantial payments often aren't reported. Concurrently, Consumer Financial Protection Bureau data indicates that approximately 26 million Americans are "credit invisible," meaning they lack a history with major credit bureaus. Recent research by Zillow highlights the importance of this issue, particularly in Blac ...

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

Core Viewpoint - Zillow Group Inc. shares declined following a Wall Street analyst's recommendation to stop buying, indicating that current prices already reflect a recovery in the housing market [1]. Group 1 - BofA Securities analyst Curtis Nagle expressed concerns about uncertainties related to lawsuits regarding commissions paid to real estate agents, which could exert downward pressure on Zillow's stock in the upcoming months [1].

Group 1 - The core viewpoint is that Zillow Group's stock is trading lower due to concerns that lower mortgage rates may not sufficiently boost the stock price in the context of high home prices and ongoing legal challenges [1] Group 2 - An analyst's opinion suggests that despite lower mortgage rates, the current high home prices present a significant barrier to stock price appreciation for Zillow Group [1] - Legal headwinds are also identified as a factor that could impede Zillow Group's stock performance [1]

Buffalo, New York's housing market will be the most competitive out of 50 major cities this year, according to projections from Zillow. The online real estate company said late last week that affordability and the level of new jobs per new home permitted helped the western New York city get the title of 2024’s anticipated hottest market. Buffalo home values being slated to remain "steady" contributed too, according to Zillow.The Buffalo area has seen homes worth $248,445 on average as of late, with residenc ...