Zillow Group’s bet on instant homebuying boosted its second-quarter revenues 84 percent to $599.6 million, the company said Wednesday.
Revenue for Zillow Offers — which debuted last year — totaled $248.9 million for the quarter. Meanwhile, Zillow Mortgages revenue rose 40 percent to $26.9 million.
In a statement, co-founder and CEO Rich Barton described demand for Zillow Offers as “incredibly impressive” and said the program is on track to hit an annualized run rate of $1 billion in revenue. Zillow said more than 69,000 homeowners requested an offer from Zillow to purchase their home during the second quarter, up 94 percent from the prior quarter.