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ZILLOW GROUP INC - ZG STOCK NEWS

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Zillow Group, Inc. (Nasdaq: ZG) is a leading Internet-based real estate company that revolutionizes the way people buy, sell, rent, and finance homes. With a diverse portfolio of well-known brands such as Zillow, Trulia, StreetEasy, HotPads, and ShowingTime+, the company caters to all stages of the home lifecycle—renting, buying, selling, financing, and home improvement.

Core Business: Zillow Group operates the most visited real estate websites and mobile apps in the United States, empowering consumers with comprehensive data, inspiration, and knowledge about homes while connecting them with local professionals. The company also collaborates with tens of thousands of real estate agents, lenders, builders, and rental professionals to maximize business opportunities and provide top-notch service to millions of consumers.

Recent Achievements and Current Projects: Zillow Group continually enhances its offerings through innovative technology and strategic partnerships. For instance, the company introduced Listing Showcase, an AI-powered immersive listing service that helps homes sell faster and at higher prices. Additionally, Zillow's research and analysis frequently provide valuable insights into market trends, such as identifying the best times to list homes for maximum sale prices.

Financial Condition: Zillow Group continues to post strong financial results, outperforming the residential real estate industry. The company's growth strategy focuses on expanding its market coverage and enhancing the digital home-buying experience through its housing super app. Recently, Zillow reported impressive revenue figures, reflecting its robust business model and commitment to innovation.

Notable Partnerships and Products: Zillow's extensive portfolio includes Zillow Premier Agent, Zillow Home Loans, and ShowingTime+, among others. The company's collaboration with local real estate agents and use of advanced technologies, such as interactive floor plans and 3D tours, enhance the home-shopping experience for consumers. Zillow also addresses fair housing issues by providing down payment assistance resources and advocating for equal housing opportunities.

Conclusion: Zillow Group, Inc. is at the forefront of the real estate industry, offering cutting-edge digital solutions and unparalleled data to help consumers navigate the complex home-buying process. With a strong financial foundation and a commitment to innovation, Zillow Group is well-positioned to continue transforming the real estate landscape.

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Zillow's HBCU Housing Hackathon attracted over 150 students from Historically Black Colleges and Universities, focusing on solutions for at-risk renters and first-time home buyers. The first place was awarded to a team from Morehouse College, winning $20,000 for their app, which predicts rent and utility increases. Zillow also donated $25,000 to Morehouse's computer science program. The event highlighted innovative projects, with other top teams focusing on financial literacy and blockchain solutions. All top teams received additional prizes, including laptops and internship opportunities at Zillow.

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Zillow Group (NASDAQ: Z, ZG) has completed its acquisition of ShowingTime, a leading online scheduling platform for home showings, for $500 million. This acquisition is significant for enhancing Zillow's capabilities in the real estate market, particularly in simplifying the home touring process. Over the past year, ShowingTime facilitated 63 million showings through its platform. Zillow Group plans to invest in ShowingTime to improve its technology and maintain its operational independence.

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The Great Reshuffling presents both challenges and opportunities for housing affordability in the U.S., according to a new Zillow analysis. While remote workers benefit from lower costs in affordable areas, in-person occupations like teaching and nursing face escalating rent pressures. Over a decade of underbuilding has limited housing supply, fueling record price increases. The analysis highlights that teachers and nurses often pay significant portions of their income on rent, with many forced to choose smaller, older homes. Communities are urged to ease zoning restrictions to increase housing supply and improve affordability.

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Zillow's Consumer Housing Trends Report reveals that despite a challenging housing market, buyers are adapting successfully. The average buyer submitted just two offers before acceptance, an increase from previous years. Most buyers (88%) utilized home inspections prior to closing, indicating a cautious approach. First-time buyers face more challenges than repeat buyers, primarily due to smaller down payments. The report also highlights a growing preference for virtual tours, with buyers increasingly confident in making offers based on them. Signs of a cooling market suggest more manageable conditions for buyers ahead.

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The Zillow Home Price Expectations Survey predicts an increase in housing inventory, primarily from existing homeowners selling their properties. This shift is expected to stabilize the market as homeowners exit forbearance programs. The panel forecasts that existing homeowners will contribute 39.7% of the housing supply, while new construction will represent 22.5%. Despite recent strong price appreciation reaching 17.7% annually, the market is anticipated to balance out as new listings rise.

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The latest Zillow market report for August reveals moderated growth in home values and rents, indicating a shift toward a more balanced housing market. Home values increased by 1.75% month-over-month, down from 1.97% in July, marking the third-largest monthly growth recorded. Inventory rose 4.1% over July, reducing the year-over-year deficit to 22.7%. The typical U.S. home value is now $303,288, reflecting a 17.7% annual increase. Additionally, monthly rent growth decelerated to 1.7%, despite a record 11.5% annual appreciation.

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Zillow's latest research reveals that nearly 40% of U.S. workers are uncertain about their return to in-person work, affecting decisions about relocation. A significant 84% prefer remote work flexibility, with 44% desiring full-time remote options. Millennials and Gen Z are particularly willing to switch jobs for more favorable work arrangements. Zillow notes that this shift could enhance economic opportunities and housing affordability, as remote workers prioritize larger, more affordable homes. The relocation rate surged by over 45% after Zillow implemented a permanent flexible work policy.

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According to a recent Zillow analysis, iBuyers sold over 15,000 homes in Q2 2021 for nearly $5.3 billion, marking an all-time high and a substantial increase from Q1. iBuyers now hold 1% market share of U.S. home sales, with significant activity in cities like Atlanta, Phoenix, and Dallas. The analysis highlights the convenience of iBuying services for homeowners, who are increasingly opting for this method even in a competitive market. Notably, homes sold by iBuyers typically fetched 9.6% more than their purchase price, indicating a healthy appreciation trend.

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Registration is now open for Zillow's inaugural hackathon aimed at students from Historically Black Colleges and Universities (HBCUs), taking place virtually from September 23. The competition offers nearly $90,000 in cash prizes, with the first-place team winning $20,000 and their school receiving $25,000. Participants will engage in workshops and mentorship, regardless of their coding skills. This initiative, in collaboration with the United Negro College Fund and Black Tech Ventures, aims to enhance the tech talent pipeline and encourage careers in technology.

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Zillow has launched a children's e-book titled The Girl Who Didn't Want to Move to assist families during relocations. The book, created with FIG, features a fictional girl named Iris and addresses the emotional challenges of moving. Zillow's survey indicates that 14% of parents with children moved in the last year, compared to 9% without children. Remarkably, 81% of parents feel their last move was worthwhile. Zillow supports Covenant House by donating for each e-book download, aiming to raise up to $25,000.

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FAQ

What is the current stock price of ZILLOW GROUP (ZG)?

The current stock price of ZILLOW GROUP (ZG) is $73.8 as of December 24, 2024.

What is the market cap of ZILLOW GROUP (ZG)?

The market cap of ZILLOW GROUP (ZG) is approximately 17.2B.

What is Zillow Group, Inc.?

Zillow Group, Inc. is an Internet-based real estate company that offers an on-demand experience for buying, selling, renting, and financing homes.

What brands are part of Zillow Group's portfolio?

Zillow Group's portfolio includes Zillow, Trulia, StreetEasy, HotPads, ShowingTime+, and more.

How does Zillow Group help consumers?

Zillow Group empowers consumers with comprehensive data, inspiration, and knowledge about homes, connecting them with local real estate professionals.

What recent innovations has Zillow Group introduced?

Zillow Group introduced Listing Showcase, an AI-powered immersive listing service that helps homes sell faster and at higher prices.

How does Zillow Group support the real estate industry?

Zillow Group works with tens of thousands of real estate agents, lenders, builders, and rental professionals to maximize business opportunities and provide top-notch service.

What financial results has Zillow Group reported recently?

Zillow Group has posted strong financial results, reflecting its robust business model and commitment to innovation, outperforming the residential real estate industry.

How does Zillow Group address fair housing issues?

Zillow Group provides down payment assistance resources, advocates for equal housing opportunities, and offers tools like the LGBTQ+ Local Legal Protections tool.

What are some of the key products and services offered by Zillow Group?

Key products and services include Zillow Premier Agent, Zillow Home Loans, interactive floor plans, 3D tours, and ShowingTime+.

What is Listing Showcase by Zillow?

Listing Showcase is an AI-powered immersive listing service introduced by Zillow that helps homes sell faster and for higher prices.

How can I find more information about Zillow Group's financial results?

You can find detailed financial results on Zillow Group's Investor Relations website at https://investors.zillowgroup.com.

ZILLOW GROUP INC

Nasdaq:ZG

ZG Rankings

ZG Stock Data

17.24B
219.46M
2.94%
85.84%
0.56%
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