High-Velocity Market Propels Zillow
Shares of zillow are up sixteen percent this morning. Sixteen percent on the back of what has been a really good year for zillow stock zillow and red fin which isn't exactly in the same business but it's definitely in the same neighborhood. They have had spectacular spectacular years. And i have to go back. And i hate doing this because i hate giving tom gardner credit. Tom gardner was so early on zillow as being a business. That is that that is well suited to how we're going to be shopping in the future. And they are spot on and you know. They came in with revenues of seven hundred. Eighty nine million dollars. A great geographic dispersion. They've obviously benefited from the in migration. They've obviously benefited from the fact that people are making have really gotten to the point now where they're moving out of cities your they're moving to places more out of desire rather than economic necessity but yeah in always are really really great quarter for them and i think that this is just the beginning for zillow. Certainly the indicated as much in terms of their guidance because their revenue guidance for twenty twenty one was definitely upbeat and that was hot. It was hot and you know the housing market. I mean rich barton was talking about what he referred to as the high velocity market and just one set of numbers around that this past december on average existing home sold in seventeen days and a year prior the average was forty two days da even though huckabee houses in our area getting sold well. And it's you know. I think that this is one more economic data point. That is grist for the mill for people who are banging the drum of the stock market. Being overheated yeah and you know obviously the housing market is not the stock market and vice versa. And yet i can understand particularly for people who are involved in it yeah. I'm sure you know at least a couple of people. We work with a couple of people who are in the process of trying to buy a home and some of the stories. I'm hearing are borderline crazy.