In June, U.S. home sales increased by 5.9% year-over-year, reversing a decline seen in May, driven by lower mortgage rates that reduced typical monthly payments by 2.5%. New listings grew 3% annually, though total inventory growth slowed to the smallest increase since December 2023. Home values rose modestly by 1.1% from last year, with affordability improving especially in lower-priced tiers. This trend suggests a mild recovery in the housing market as buyers respond to better financing conditions and increased listing activity.
Zillow has changed its For Sale business to a Preferred Agent model, where agents pay Zillow only after a successful transaction closes. This shift causes expected revenue to slow this year as income is deferred to home sales rather than upfront fees...
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...
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% yea...
