Zillow Group posts strong Q2 2026 with 18% revenue growth, driven by preferred model adoption.

Zillow Group reported robust Q2 2026 results, achieving 18% year-over-year revenue growth fueled by gains in mortgage, rentals, and for-sale segments. The preferred model now accounts for 61% of connections, enhancing revenue per connection and supporting long-term monetization prospects. Although near-term profits face pressure from revenue recognition timing, EBITDA growth is expected to accelerate as the preferred model matures. The analyst maintains a buy rating, seeing current valuations as attractive and upside potential underestimated.