Z - Why Did Zillow Stock Fall 11% Last Month?
2024-04-09 17:16:00 ET
Shares of Zillow Group (NASDAQ: Z) dropped 11.5% in March, according to data provided by S&P Global Market Intelligence . News broke that realtor commissions would be fundamentally changed moving forward, sparking fears of lower demand for Zillow's services.
Last month, the National Association of Realtors (NAR) announced that a legal settlement is expected to result in a 25% to 50% reduction in realtor fees on residential real estate transactions. Nearly 90% of home sales in the U.S. are handled by NAR members, who have generally charged a 6% standard commission on the sale price, so the total impact could be enormous.
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Why Did Zillow Stock Fall 11% Last Month?