Zillow Group Stock Price, News & Analysis

Zillow's latest report reveals that Texas and Florida dominate the top places for home buyers based on their new market heat index, which places seven out of the top ten markets in these states. Key markets like Austin and San Antonio have surpassed pre-pandemic inventory levels, easing competition.

Despite high mortgage rates and increased inventory, the U.S. market remains a seller's market. Home values have increased by 1.2% from March to April and are 4.4% higher than last year, with the typical home now valued at $359,402.

Buffalo, NY ranks as the best market for sellers, followed by coastal tech hubs and Midwest metros. The share of listings with a price cut reached 22.4% in April, the highest in six years, potentially indicating softening demand. Homes sold in 13 days on average, three days slower than last April.

Overall, inventory climbed 18% year-over-year, while new listings went up nearly 16%. However, total inventory remains 36% below pre-pandemic levels.

Zillow Home Loans introduces BuyAbility, a new tool that helps buyers understand what they can afford by combining real-time mortgage rates with credit score and income. This tool provides personalized estimates of home price and monthly payments, giving insight into loan qualification likelihood. BuyAbility aims to empower buyers to make informed decisions about homeownership.

A recent Zillow survey found that 44% of adults would buy their childhood home if cost was not an issue. The survey also revealed that younger generations, particularly those born in the 1980s and 1990s, are more likely to desire their childhood homes. However, affordability remains a significant barrier, with many adults unable to afford their childhood homes at today's prices. Despite this, adults continue to dream of certain features in their ideal homes, with practical amenities like air conditioning, walk-in closets, and laundry rooms topping the list.

New York City rents grew seven times faster than wages last year, creating an affordability crisis. Since 2019, U.S. rents increased by 30.4% while wages grew by 20.2%. New York City saw the largest gap in the country, with rents outpacing wages by 7.4 percentage points. Despite a national trend of wages catching up to rents, New York City remains an outlier due to a housing shortage and high demand.

BARK and Zillow have collaborated to identify America's most dog-obsessed cities for renters by combining dog data with Zillow's rental database. Dallas, Austin, and San Antonio top the list, with Golden Retrievers and Labrador Retrievers being popular breeds. New York City favors French Bulldogs, while 'Bear' is a common dog name in cities like Indianapolis, Phoenix, and Jacksonville.

Zillow Group, Inc. reported its first-quarter 2024 financial results, showcasing revenue growth across its residential, rentals, and mortgages segments. The company exceeded revenue and Adjusted EBITDA expectations, with Q1 revenue reaching $529 million, a 13% increase year over year. The net loss was $23 million, representing 4% of total revenue in Q1. Zillow's strong performance was driven by its focus on software integration and audience engagement. The company's cash and investments stood at $2.9 billion at the end of Q1.

A new Zillow report reveals significant racial disparities in rent affordability in the U.S., with BIPOC households spending 34% of their income on rent compared to 29% for white households. The report also highlights a shortage of housing assistance, with only 2.4 million vouchers available for 19 million qualifying households. Zillow's new listing feature aims to inform renters of their rights and combat source-of-income discrimination.