Zillow Reports Record Profits of $52 Million in Q1 2021
During an earnings call Tuesday, CEO Rich Barton said home-price appreciation over the last six months hit “unprecedented” levels not seen in 35 years. “Volumes are up. Home price appreciation is up. Homes are just moving really, really fast,” he said. “All of that put winds in the sails of our Premier Agent business and business overall.” The housing market rebound coincides with the re-acceleration of Zillow Offers. Along with other iBuyers, Zillow suspended iBuying when the pandemic struck. During the quarter, Zillow purchased 1,856 homes and sold 1,965 homes during the quarter...