The US property market is imploding at a rapid rate. Online real estate marketplace Zillow emailed about 300 employees Tuesday that they were being laid off effective immediately. In November last year, Zillow announced that it would lay off a quarter of its staff, around 2,000 people. These layoffs impacted Zillow Offer advisors, PA sales and back-end staff at Zillow Home Loans and Zillow Closing Services, among others. Yesterday it was announced new home sales declined 10.9% month-over-month in September. … Continue reading “Zillow Lays Off Another 5% of Employees as Real Estate Market Woes Deepen”
Zillow Earnings Beat as Housing Market Outlook Brightens
Real Estate firm Zillow returned a profit for the first quarter versus a loss a year ago. $Z is benefiting from the housing boom where US March housing starts soared in March 19.4%, the highest reading since June of 2006. The median existing home price was the highest on record.
Amazon Moving Into Real Estate, Zillow Stock Tumbles
Amazon Prime Day is not even a day old and we get the latest in the Amazon ($AMZN) expansion octopus. The latest target appears to be Zillow ($Z).