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 ...

"Housing markets are healthiest where affordable home prices and strong employment are giving young hopefuls a real shot at buying and starting to build equity," said Anushna Prakash, data scientist for Zillow Economic Research. "I'm cautiously optimistic that the housing market will get back on stable footing in 2024 — we shouldn't see the massive price spikes of the early pandemic or fast-rising mortgage rates of recent years."  This ranking of the nation's 50 most populous metros takes into account Zillo ...

Group 1: Market Overview - The real estate market is currently experiencing a stalemate, with homeowners reluctant to sell and potential buyers deterred by high prices and mortgage rates [3][4] - The average home price in the U.S. is approximately $431,000, a 31.8% increase from the pre-pandemic average of $327,000, while mortgage costs have doubled in the same period [4][6] - The Federal Reserve's dovish stance and potential rate cuts in 2024 are expected to stimulate housing demand and normalize prices through increased inventory [2][4] Group 2: Zillow's Position - Zillow is projected to experience a 28.8% growth in earnings per share over the next twelve months, outperforming the industry average of 17.9% [6] - Zillow's stock is currently trading at 98.0% of its 52-week high, with a significant historical high of $208.1 reached in 2021 during a low-interest-rate environment [6] - Despite facing headwinds from high-interest rates and tight inventory, Zillow reported better-than-expected financial figures in Q3 2023, indicating resilience [6] Group 3: Investment Sentiment - Analysts suggest that Zillow is well-positioned to benefit from the anticipated housing demand boom, as new inventory needs to be connected with buyers [6] - The Vanguard Real Estate ETF has underperformed the S&P 500 by 18.2% over the past year, but showed a 6.0% outperformance in the last month, signaling a potential market turnaround [6] - Despite Zillow's strong fundamentals, it currently holds a "Hold" rating among analysts, with five other stocks being recommended as better buys [6]

Feverpitched Real estate website Zillow (NASDAQ:ZG) has evolved into an integrated real estate marketplace. Despite industry challenges, the company is innovating products and services to capture more of transaction values over time. The US housing market is experiencing a sharp cyclical correction but for long-term investors, Zillow offers an attractive risk-reward investment as housing recovers. The State of Housing The state of housing in the US is in bad shape. Existing home sales declined for 9 str ...