"Zillow's residential revenue grew 8% annually to $450 million, while rental revenue grew 42% year-over-year to $183 million and mortgage revenue rose 56% to $64 million. This growth is attributed to the company's strategic initiatives, including Preferred, Zillow Showcase, and the New Construction marketplace."
"Hofmann stated that Zillow Home Loans is now a top-25 purchase lender in the country, with a 96% annual increase in purchase loan origination volume to $1.5 billion, demonstrating the effectiveness of their strategy in a challenging market."
"Zillow Preview, a new pre-marketing offering, has signed more than 60 brokerages in seven weeks, providing public exposure to listings, which aligns with consumer demand for access to pre-listed homes online."
"A recent Harris Poll survey indicated that nearly 9 in 10 Americans would be interested in viewing pre-listed homes online, and 85% of soon-to-be sellers prefer agents who can pre-market their homes to a broad audience."
Zillow's residential revenue increased by 8% to $450 million, rental revenue rose 42% to $183 million, and mortgage revenue surged 56% to $64 million. Growth in residential revenue was driven by Preferred, Zillow Showcase, agent software tools, and the New Construction marketplace. Zillow Home Loans became a top-25 purchase lender, with a 96% increase in purchase loan origination volume. The new Zillow Preview product has attracted over 60 brokerages, offering public pre-marketing for listings, which aligns with consumer interest in viewing pre-listed homes online.
Read at www.housingwire.com
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