US home sales increased 7% year-over-year in July, marking the strongest annual gain this year, largely reflecting deals made in June when mortgage rates were lower. However, newly pending sales, a key indicator of future closings, grew only 0.3% year-over-year and fell 7.7% from June, signaling a slowdown ahead due to rising mortgage rates hitting their highest level in a year. Inventory rose slightly by 1.5% year-over-year, supported by a 3.1% increase in new listings. Experts warn that the affordability advantage may vanish if mortgage rates continue to rise, potentially leading to flat or declining home sales for the rest of the year.
Zillow Group is restructuring by laying off 7% of its workforce due to a flat housing market despite an 18% revenue increase to $772 million in Q2. The company reported a GAAP net loss of $4 million, reflecting ongoing market challenges. Morgan Stanl...
Zillow Group has expanded Jeremy Hofmann's role to include chief operating officer alongside his chief financial officer duties, aiming to improve coordination and speed in scaling its housing super app. Cassandra "Sandi" Knight joins as Zillow's fir...
Zillow Group announced its Q2 2026 financial results, reporting an 18% year-over-year revenue increase to $772 million, driven by strong growth in mortgages (up 75%) and rentals (up 31%). Despite a slight net loss of $4 million, adjusted net income r...
Law Offices of Howard G. Smith reminds investors of upcoming deadlines to file lead plaintiff motions in securities fraud class actions involving Erasca, Via Transportation, Embecta Corp., and Zillow. These lawsuits allege the companies made false or...
Zillow announced it is laying off over 500 employees, roughly 7% of its workforce, as part of organizational changes to improve efficiency and cost structure. CEO Jeremy Wacksman emphasized that despite a flat housing market, Zillow's platform contin...
