Yesterday we published a note on the most recent results from our Bespoke Consumer Pulse survey that we conduct on 1,500 US consumers each month (with demographics balanced to census numbers). In regards to real estate and housing, one of the many questions we ask consumers is what their favorite website/app is to search for real estate. When it comes to searching for houses, there’s Zillow and then there’s everyone else. As shown below, 48.3% of respondents said that Zillow is their favorite website/app for searching for real estate. Realtor.com ranks second all the way down at 15.6%. While Zillow’s popularity in our survey dipped somewhat in late 2019 and 2020, it has been trending steadily higher since mid-2021 and just hit new survey highs (since 2014) this month.
While Zillow’s popularity with US consumers hit a record high in our survey this month, the company’s share price certainly hasn’t followed this trend. Since the end of 2020, shares of Zillow (ZG) are down 67%, and they’re down 16.5% over the last five years. Of course, in between we saw shares explode higher by more than 600% from their post-COVID lows in March 2020 to their highs in early 2021:
The shorter-term chart for ZG looks quite different, though, with a series of higher highs and higher lows since shares bottomed last October.
Check out our full Consumer Pulse Report here if you’re interested in the latest consumer trends across the economy.
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