Author Bio
Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool s Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan s articles are based on more than 20 years of experience from all angles of the financial world.
Follow @DanCaplinger
The stock market had another topsy-turvy day on Wednesday, with major market benchmarks getting pushed and pulled in both directions at various points. Investors remain concerned about the potential for inflation forcing the hand of the Federal Reserve, but they re also upbeat about the prospects for economic recovery and generally strong earnings from corporate America.
Share this article
Share this article
SEATTLE, May 4, 2021 /PRNewswire/ Zillow Group, Inc. (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced its consolidated financial results for the three months ended March 31, 2021.
Complete financial results, and outlook for the second quarter of 2021, can be found in the company s shareholder letter on the Investor Relations section of Zillow Group s website at https://investors.zillowgroup.com/investors/financials/quarterly-results/default.aspx. Zillow s first-quarter results exceeded expectations and showed our momentum toward delivering a seamless, end-to-end real estate transaction, said Zillow Group co-founder and CEO Rich Barton. Across the country, Millennials are moving up, Baby Boomers are downsizing, and in between, people of all generations are rethinking their lives in a cultural phenomenon we have termed the Great Reshuffling. Millions come to Zillow to surf and dr
During an earnings call Tuesday, CEO Rich Barton said home-price appreciation over the last six months hit “unprecedented” levels not seen in 35 years.
“Volumes are up. Home price appreciation is up. Homes are just moving really, really fast,” he said. “All of that put winds in the sails of our Premier Agent business and business overall.”
The housing market rebound coincides with the re-acceleration of Zillow Offers.
Along with other iBuyers, Zillow suspended iBuying when the pandemic struck. During the quarter, Zillow purchased 1,856 homes and sold 1,965 homes during the quarter. “The Q1 resale velocity, in which 128 percent of beginning inventory was sold during the quarter, was ahead of plan,” Barton wrote in a letter to shareholders.
Javascript is disabled in your web browser.
For full functionality of this site it is necessary to enable JavaScript. Please Allow Javascript and reload this page.
Proptech CEO pay, the #s behind Sonder’s $2.2B SPAC deal
Plus, a startup that tracks our cell phones raised $50M National /
Proptech’s payday
A year ago, Redfin CEO Glenn Kelman said he would forgo a salary after the tech brokerage had to furlough 40 percent of agents and staff. Other CEOs followed suit.
But in the end, the pandemic didn’t cause a housing meltdown or a meaningful deterioration in CEO pay.
In 2020, CoStar’s Andy Florance was compensated $21.3 million, according to the company’s recently filed proxy statement. Behind him was eXp World Holdings’ Glenn Sanford with $15.9 million and Zillow’s Rich Barton with $8.4 million. Kelman stuck to his word and collected a salary of $63,609 (instead of $300,000). Sanford also took a smaller salary $656,480 instead of $1.5 million.
Inman Connect
On a Tesla earnings call on Monday, founder Elon Musk was discussing neural networks when his baby let out a wail. Undeterred, he continued.
Never have we revealed so much about our homes and our lives inside them. We have let in co-workers, business associates, even strangers through virtual technology with background shots of laundry and dishes, dirty windows, kids chasing one another, sparsely clothed spouses drifting by and almost anything else that goes on in our homes.
Our prized personal space, usually highly private, is now semi-public.
The sounds of birds, leaf blowers, Amazon delivery trucks, nannies, grandmothers and roommates are common background noise for our virtual visitors.