Zillow Stock Tumbles On Muted Sales Outlook As Mortgage Rates Surge, Housing Market Cools

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By Martin Baccardax “With forecasts varying widely, one thing that is clear about the 2022 housing market is that the path ahead is uncertain.” Zillow said in a letter to shareholders late Thursday. Zillow (ZG) – Get Zillow Group, Inc. Class A Report shares slumped lower Friday after the online real estate platform forecast softer-than-expected near-term revenues amid a surge in residential mortgage rates that could trigger a broader slowdown in the housing market. Zillow said revenues for the three months ending in June would likely come in at around $1 billion, why shy of the $1.8 billion Wa…

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