Zillow Resumes Buying Homes in Six Additional Markets as Housing Market Continues Strong Recovery

SEATTLE, June 9, 2020 /PRNewswire/ -- Zillow Group, Inc. (NASDAQ:Z) (NASDAQ:ZG), which is transforming the way people buy, sell and finance homes, is now buying homes in six additional markets, bringing the total to 15.

Starting today, homeowners in Atlanta, Dallas, San Antonio, Austin, Texas, San Diego and Sacramento, Calif. can sell their homes directly to Zillow once again in a convenient, seamless transaction through Zillow Offers. Zillow paused buying homes in the 24 markets where Zillow Offers operates on March 23 in response to housing market uncertainty and public health concerns.

"Our goal at Zillow is to help people navigate what can be a stressful and complex process, and with Zillow Offers, give them a way to skip over a lot of the hassles and challenges of selling a home today," said Zillow President Jeremy Wacksman. "People still want - and need to - move. With new digital tools and health protocols, Zillow Offers can help people safely unlock the next stage of their lives with greater certainty, control and convenience."

Recent Zillow data shows that real estate is resilient and steadily recovering from the disruption caused by COVID-19. While the housing market saw buying and selling slow significantly in March and early April during the early days of the pandemic and local stay-at-home orders, it has since begun to pick back up.  New for-sale listings are up 19.3% month over month. Similarly, buyers have ramped up in the past few weeks, with newly pending sales up 24.5% over the past month¹. Traffic to for-sale listings on Zillow is up 51% from a year ago².

As part of the resumption of home-buying through Zillow Offers, Zillow launched a new initiative, called "Move Forward. Stay Safe." With guidance from former U.S. Surgeon General Dr. Regina Benjamin as Zillow's new Health Advisor, this industry-leading initiative provides guidelines to keep employees, customers and partners safe whether they are buying, selling or renting a home.

Selling through Zillow Offers gives homeowners a way to sell with limited in-person interactions, along with the option to close virtually on the date of their choosing. In a traditional sale, the typical home seller has to leave their home more than three times for showings or open houses³.

Buyers who are interested in Zillow-owned homes have the option to use virtual tools to help them tour homes safely through the Zillow app or website. All Zillow-owned homes feature proprietary 3D Home tours, and buyers can also schedule a live virtual tour with an agent or an in-person showing. Zillow-owned homes follow a "Clean, Protect, Distance" protocol to ensure a safer environment for customers and partners during in-person tours.  

About Zillow Group

Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG), the largest portfolio of real estate brands on mobile and the web, is building a safe, on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow's businesses to find and get into their next home with speed, certainty and ease.

In addition to Zillow's for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline.  Zillow Closing Services offers customers Zillow-branded title and escrow services to support a more seamless transaction experience. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.

Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they've come to expect from real estate's most trusted brand.

Zillow, Zillow Offers, and Zillow Closing Services are registered trademarks of Zillow, Inc. Zillow Home Loans, LLC is an Equal Housing Lender; NMLS 10287, www.nmlsconsumeraccess.org. The company is headquartered in Seattle.

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¹https://www.zillow.com/research/zillow-weekly-market-report-27151/
²As of May 24, including all page views of for-sale homes on Zillow.com and the Zillow app, excluding those from real estate agents and other professional users. Daily figures were calculated using a seven-day trailing average. Year-over-year comparisons were made after offsetting 2019 data by two days in order to compare consistent days of the week.
³ https://www.zillow.com/report/2019/selling-a-home-in-america/home-seller-overview-key-facts-figures/

SOURCE Zillow

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