Bloomberg Talks
Zillow Group CEO Jeremy Wacksman Talks US Housing Market
Feb 12, 2025
Jeremy Wacksman, CEO of Zillow Group, shares insights on navigating the tumultuous U.S. housing market, tackling challenges like high mortgage rates and low inventory. He discusses Zillow's impressive revenue growth despite these hurdles and emphasizes the ongoing demand from various buyer demographics. With strategic partnerships, like one with Redfin, Wacksman explores how collaboration is reshaping rental listings. The conversation also touches on the role of AI in real estate and the need for responsible innovation to improve customer experiences.
14:49
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Zillow experienced a 17% revenue growth in Q4 amidst a challenging housing market influenced by high mortgage rates and limited inventory.
- The CEO emphasized that addressing the housing supply issue requires state and local reforms to encourage homebuilding and meet demand.
Deep dives
Zillow's Performance Amid Housing Market Challenges
Zillow has reported a 17% increase in revenue for Q4, successfully achieving double-digit growth and margin expansion despite ongoing challenges in the housing market. The company anticipates continued revenue growth in the low to mid-teens for the coming year, although the overall housing market remains depressed due to high mortgage rates and limited inventory. The CEO highlights that many potential sellers are hesitant to list their homes because they feel 'locked' into their low mortgage rates, which further contributes to the shortage of available homes. As Zillow works to help more buyers and sellers connect, it is also focusing on enhancing its integrated super app strategy to capture market share.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
