On October 30, 2025, Zillow Group reported impressive third-quarter earnings that exceeded analyst expectations, showcasing the company’s resilience and growing presence in the housing technology sector. The company posted earnings of $0.04 per share on $676 million in revenue, surpassing analysts’ forecasts of $0.02 per share on $671 million in revenue. This performance reflects Zillow’s ability to maintain robust business growth despite the challenges faced in the broader housing market, including rising mortgage rates and a moderation in home-price growth.
One of the standout areas of growth for Zillow was in its residential-listings segment, which saw a 7% increase in revenue, totaling $435 million. More notably, the company’s mortgage business posted a 36% increase, bringing in $53 million, while its rental revenue surged by 41%, reaching $174 million. These impressive figures highlight Zillow’s ability to diversify its revenue streams beyond traditional residential listings, allowing it to capitalize on ancillary services such as financing and rental services.
Zillow’s growth in the mortgage sector was particularly noteworthy, driven by a 57% increase in purchase-loan originations, which rose to $1.3 billion. The company also reported a 47% rise in multifamily property listings, underscoring the increasing importance of the rental market in Zillow’s business strategy. As a result, Zillow’s performance in Q3 demonstrates the success of its efforts to broaden its portfolio and tap into growing segments within the housing ecosystem.
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Looking ahead, Zillow has provided optimistic guidance for the fourth quarter, projecting revenue between $645 million and $655 million, along with an expected adjusted EBITDA of $145 million to $155 million. These figures suggest that the company is poised for continued growth and is well-positioned to navigate the evolving dynamics of the housing market.
Analysts have pointed out that Zillow’s strong results are a testament to the growing importance of prop-tech companies, which are finding ways to thrive even amid challenges like slower home-price appreciation and rising mortgage rates. Zillow’s ability to pivot and expand into rentals and financing services has proven to be a smart move, allowing the company to create a more diversified and resilient business model. This performance highlights the broader trend in the housing technology sector, where companies are increasingly moving beyond traditional real estate brokerage to offer a broader range of services, from mortgage origination to rental platforms.
For industry observers, Zillow’s third-quarter performance signals a shift in the residential real estate market. No longer solely driven by home-price appreciation, the market is evolving into a space where services, efficiency, and technology-enabled platforms are becoming more central to business success. Zillow’s multi-segment growth is a clear example of this transition and reinforces the company’s position as a leader in the housing-tech ecosystem.
As the housing market continues to face challenges, Zillow’s ability to innovate and diversify its offerings positions it well for future growth, even as the traditional real estate landscape experiences shifts in demand and pricing dynamics. The company’s performance in Q3 serves as a reminder of the evolving nature of the housing industry, where tech-driven solutions and diversified business models may hold the key to sustained success in the years to come.
