Welcome to our dedicated page for Zillow Group news (Ticker: Z), a resource for investors and traders seeking the latest updates and insights on Zillow Group stock.
Zillow Group, Inc. (Nasdaq: Z and ZG) generates a steady stream of real estate news and housing market analysis through its Zillow-branded reports and research. As an Internet-based real estate company and the operator of what it describes as the most visited real estate app and website in the United States, Zillow Group regularly publishes updates on home values, affordability, mortgage trends and competition across major U.S. metropolitan areas.
News about Zillow Group often centers on its housing market reports, which track metrics such as the share of household income needed for a typical mortgage payment, changes in inventory, price cuts, rent growth and regional differences in market heat. The company also releases forecasts that outline expected home value growth, mortgage rate paths and affordability conditions in coming years, as well as rankings of markets it identifies as hottest or most popular for home shoppers.
In addition to macro-level market coverage, Zillow Group’s news includes consumer research and behavior insights, such as how buyers and sellers choose real estate agents, what features home shoppers search for most, and how search patterns vary by state or region. The company highlights tools on its platform, including affordability calculators, down payment assistance information and its BuyAbility feature, in the context of these reports.
This news page aggregates press releases, analyses and company updates related to Zillow Group’s role in the U.S. housing market. Readers can use it to follow changes in affordability, monitor which metros Zillow identifies as especially competitive, and see how the company’s data and tools are being applied to topics ranging from wildfire impacts on housing to seasonal shifts in listings and sales activity.
Zillow Group (NASDAQ: Z, ZG) announced the appointment of Jenny Arden as the company's first Chief Design Officer (CDO) on January 7, 2022. Arden brings over 20 years of experience from companies like Nike, Lyft, and Airbnb, where she led creative and design teams. Her role will focus on enhancing the customer experience across Zillow's platforms. COO Jeremy Wacksman emphasized the need for integrated experiences as more people utilize Zillow for real estate needs, highlighting the importance of design in connecting with customers.
Zillow has identified Tampa as the hottest housing market of 2022, followed by Jacksonville, Raleigh, San Antonio, and Charlotte. Factors contributing to Tampa's ranking include significant expected home value growth, a strong job market, and limited inventory. Zillow forecasts a 14.3% national home value growth through November 2022, with Tampa projected to see a remarkable 24.6% increase. The demand for housing is heightened by demographic shifts, with millennials and baby boomers actively seeking homes.
Zillow Research indicates that 72% of homeowners plan home improvements in 2022. The most popular renovations are bathroom remodels, with over half of homeowners considering them. Premium features like 'curbless' showers add up to a 3.6% price premium. Similarly, 46% of homeowners are interested in kitchen remodels. Homeowners are also prioritizing projects with high ROI, such as adding living space. Realm provides insights to homeowners, helping them make informed renovation decisions based on investment returns.
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South Lake Tahoe, California, has been named Zillow's most popular place of 2021, showcasing trends in real estate demand. The ranking considers page-view traffic, available housing inventory, and price appreciation. South Lake Tahoe leads with an impressive 5,469 page views per listing, and a typical home valued at $692,792. Other notable mentions include Calabasas and Malibu in California, Newport in Oregon, and Lavallette in New Jersey for different categories such as beach towns and retirement towns. This analysis reflects Zillow's commitment to understanding market trends during the pandemic.
Allied Van Lines and Zillow have partnered to analyze moving and housing trends in the COVID economy. Florida emerged as the leading destination with 5,684 moves, followed by Texas and California. The report highlighted a shift towards affordable neighborhoods, with the average mover relocating to a home valued $35,800 less than their previous one. Texas is anticipated to grow significantly, attracting businesses due to its robust economy. The Dallas-Fort Worth area topped the list for net inbound moves, while Chicago led in outbound moves.
The Zillow November Market Report indicates a pre-winter surge in home values, with U.S. home prices increasing by 1.2% from October and 19.3% year-over-year, marking the highest growth for this century.
Inventory has decreased 6.1% from October and 17.5% year-over-year, hinting at a tightening market. Despite the anticipated influx of forced sales post-mortgage forbearance, most homeowners remain in their properties. Zillow forecasts home values will rise 14.3% over the next year, though this growth is expected to slow. Rent growth has also decelerated, with typical rents increasing by 15.2% year-over-year.
Zillow has partnered with Down Payment Resource to enhance homeownership accessibility by integrating down payment assistance program information into its property listings. This feature allows buyers to discover available assistance programs by entering basic information, potentially revealing over 2,000 programs nationwide with an average benefit of $17,000. The initiative aims to empower underrepresented communities facing challenges in saving for down payments amid rising home prices. Zillow's Social Impact Product team developed this feature as part of its broader strategy to promote affordable homeownership.
Santa Claus' home at the North Pole is now valued at $1,031,401, a 19% increase from last year due to rising home values during the pandemic. The Clauses' home features a unique design appealing to pandemic-era buyers, including a hot cocoa tap and gourmet oven. Zillow projects a further 14% appreciation in value next year. The property, listed on Zillow since 2016, is not for sale, and visitors can tour it virtually, enhancing holiday spirit amidst changing lifestyles.
Zillow Group provides strategies for home sellers in a cooling winter market to enhance their chances of selling. Typically, homes are under contract in 30 days during winter compared to 7 days in peak seasons. Recommended preparations include early home improvements, creating a cozy ambiance with appropriate lighting and scents, and enhancing online presence with professional photography and virtual tours. Sellers should highlight cozy features and exercise caution with holiday décor to avoid alienating potential buyers. Zillow emphasizes that effective online marketing is critical as 95% of buyers utilize online tools.