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Zillow Group(Z) - 2024 Q1 - Quarterly Results
2024-05-01 20:08
Exhibit 99.2 Reported Consolidated Results ZILLOW GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, unaudited) December 31, March 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 1,439 $ 1,492 Short-term investments 1,478 1,318 Accounts receivable, net 100 96 Mortgage loans held for sale 132 100 Prepaid expenses and other current assets 170 140 Restricted cash 3 3 Total current assets 3,322 3,149 Contract cost assets 23 23 Property and equipment, net 343 328 Right of use assets ...
BIPOC renters hit hardest by high rent costs
Prnewswire· 2024-04-29 12:00
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 ...
Across 26 US metros, majority of people say they have experienced housing discrimination
Prnewswire· 2024-04-25 12:00
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 ...
Showcase listings on Zillow are more than just cutting-edge -- featured homes sell faster and for more money
Prnewswire· 2024-04-16 13:00
"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 ...
Home values rising fastest in costliest metros
Prnewswire· 2024-04-15 12:00
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 ...
Why Jefferies Is Pounding the Table on Zillow (Z) Stock
InvestorPlace· 2024-04-10 15:20
Zillow (NASDAQ:Z) stock is a hot topic on Wednesday as the real estate platform company’s shares get updated coverage from Jefferies analysts.Jefferies analyst John Colantuoni updated his price target for Z stock from $70 per share to $75 per share. That’s a potential upside of 31.2% over the stock’s prior closing price. It’s also well above the analysts’ consensus price prediction of $58.75 per share.The Jefferies maintained a “buy” rating for Z stock in this latest coverage. That’s a bullish stance next t ...
Why Did Zillow Stock Fall 11% Last Month?
The Motley Fool· 2024-04-09 21:16
Bad news for Zillow's key customers created concern around the company's future performance.Shares of Zillow Group (Z 0.61%) dropped 11.5% in March, according to data provided by S&P Global Market Intelligence. News broke that realtor commissions would be fundamentally changed moving forward, sparking fears of lower demand for Zillow's services.The real estate industry is set for major changesLast month, the National Association of Realtors (NAR) announced that a legal settlement is expected to result in a ...
Zillow Group to Announce First-Quarter 2024 Results May 1
Prnewswire· 2024-04-08 20:05
Conference call to be webcast live at 2 p.m. PT / 5 p.m. ET SEATTLE, April 8, 2024  /PRNewswire/ -- Zillow Group, Inc. (Nasdaq: Z and ZG) announced today it will release first-quarter 2024 financial results after market close on Wednesday, May 1, 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 on the company' ...
The US has a record-high 550 'million-dollar' cities
Prnewswire· 2024-04-02 12:07
Low inventory is keeping competition high and home values rising There are currently 550 U.S. cities where the typical home value is $1 million or more, up from 491 a year ago. California easily boasts the most million-dollar cities, followed by New York and New Jersey. Florida, Texas and Delaware are the only states with a net loss in million-dollar cities over the past year. SEATTLE, April 2, 2024 /PRNewswire/ -- The U.S. has a record-high 550 "million-dollar" cities — cities where the typical home is wor ...
Tricked-out backyards can help homes sell for $10,000 more
Prnewswire· 2024-03-21 12:00
Zillow finds homes featuring TikTok trends, like plant ledges and rounded corners, sell nearly a week faster New Zillow research finds outdoor TVs, outdoor showers and outdoor kitchens can help homes sell for as much as 3.1% more than expected. Fresh features are replacing old favorites. Soapstone countertops and beverage centers are outperforming quartz counters and wine fridges. Viral home features that appeal to younger first-time buyers can help a home sell up to six days faster than expected.  SEATTL ...