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Zillow Stock Is Finally Rising Today -- Here's Why

·2 min read
Zillow Stock Is Finally Rising Today -- Here's Why
In this article:
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  • ZG

Zillow gave investors an update on the winding down of its iBuying business on Thursday afternoon, and there were two key points that are fueling today's news. First, Zillow announced the sale of the nearly 10,000 homes it owns is progressing faster than expected. This is significantly faster than Zillow's management anticipated, and it caused the company to raise its fourth-quarter expectation for home-selling revenue from $1.9 billion at the midpoint of its guidance range to $2.6 billion.