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Zillow Could Get Scorched by Cooling Market

  CRETech  ·  1 minute read

Zillow Group ZG -1.89% says it can profit from a cooling housing market, while skeptics fear a downturn could dent the company’s new business. Which side is right? The answer could be coming soon.

Last week, Zillow reported U.S. home values fell from March to April—the first month-over-month decline in housing prices in more than seven years.

And while the company cautions against making too much of a single month’s change, annual data suggests the housing market has been cooling for months. Year-over-year gains in home prices slowed to 6.1% in April, down from 7.5% in April of last year, according to Zillow.