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Zillow Group (ZG) Survey Shows Support for Housing Affordability
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Zillow Group, Inc. (ZG - Free Report) has conducted research showing that most homeowners and renters support allowing backyard cottages, duplexes and triplexes in residential neighborhoods.
Headquartered in Seattle, WA, Zillow Group is a digital real estate company that operates brands on mobile applications and websites.
Covering 26 U.S. metropolitan areas struggling with housing affordability, the survey reveals that 77% of homeowners and renters support the construction of either new accessory dwelling units (ADUs), duplexes or triplexes.
Of the homeowners surveyed, 73% support at least one modest densification option, including either the construction of new backyard cottages or the building of new duplexes or triplexes. Of the renters, 84% support at least one modest densification measure in neighborhoods to help increase housing supply.
Modest densification measures, such as adding a small apartment in a backyard or converting existing homes into duplexes, could create millions of new homes. The survey shows that residents of more than 20 U.S. metros understand that building more homes in their neighborhoods is a feasible way to increase housing supply and address affordability.
The survey garnered responses from more than 12,000 individuals. Across metros, support for modest densification was strong, with at least 70% of respondents expressing support for the construction of ADUs, duplexes or triplexes in neighborhoods.
Of the respondents, 61% agreed that affordable housing in their neighborhood is more important than preserving free parking for themselves. A majority of respondents said that allowing duplexes and triplexes in residential neighborhoods will have a positive impact on access to public facilities.
Zillow Group’s growth is attributable to its Premier Agent Business, new construction marketplaces and increasing traffic in its mobile apps and websites.
The stock has lost 67.6% in the past year compared with the industry’s decline of 1%.
Image Source: Zacks Investment Research
The company is benefiting from robust performances by the Homes and Internet, Media & Technology segments.
Gogo Inc. (GOGO - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 25% over the past 60 days.
Gogo delivered a trailing four-quarter earnings surprise of 65%, on average. It has soared 92.5% in the past year.
Nokia (NOK - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 5% over the past 60 days.
Nokia pulled off a trailing four-quarter earnings surprise of 205.2%, on average. It has moved up 28% in the past year.
Sierra Wireless, Inc. carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised upward by 237.5% over the past 60 days.
Sierra Wireless pulled off a trailing four-quarter earnings surprise of 58%, on average. The stock has returned 11.5% in the past year.
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Zillow Group (ZG) Survey Shows Support for Housing Affordability
Zillow Group, Inc. (ZG - Free Report) has conducted research showing that most homeowners and renters support allowing backyard cottages, duplexes and triplexes in residential neighborhoods.
Headquartered in Seattle, WA, Zillow Group is a digital real estate company that operates brands on mobile applications and websites.
Covering 26 U.S. metropolitan areas struggling with housing affordability, the survey reveals that 77% of homeowners and renters support the construction of either new accessory dwelling units (ADUs), duplexes or triplexes.
Of the homeowners surveyed, 73% support at least one modest densification option, including either the construction of new backyard cottages or the building of new duplexes or triplexes. Of the renters, 84% support at least one modest densification measure in neighborhoods to help increase housing supply.
Modest densification measures, such as adding a small apartment in a backyard or converting existing homes into duplexes, could create millions of new homes. The survey shows that residents of more than 20 U.S. metros understand that building more homes in their neighborhoods is a feasible way to increase housing supply and address affordability.
The survey garnered responses from more than 12,000 individuals. Across metros, support for modest densification was strong, with at least 70% of respondents expressing support for the construction of ADUs, duplexes or triplexes in neighborhoods.
Of the respondents, 61% agreed that affordable housing in their neighborhood is more important than preserving free parking for themselves. A majority of respondents said that allowing duplexes and triplexes in residential neighborhoods will have a positive impact on access to public facilities.
Zillow Group’s growth is attributable to its Premier Agent Business, new construction marketplaces and increasing traffic in its mobile apps and websites.
The stock has lost 67.6% in the past year compared with the industry’s decline of 1%.
Image Source: Zacks Investment Research
The company is benefiting from robust performances by the Homes and Internet, Media & Technology segments.
ZG currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Gogo Inc. (GOGO - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 25% over the past 60 days.
Gogo delivered a trailing four-quarter earnings surprise of 65%, on average. It has soared 92.5% in the past year.
Nokia (NOK - Free Report) , carrying a Zacks Rank #2 (Buy), is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 5% over the past 60 days.
Nokia pulled off a trailing four-quarter earnings surprise of 205.2%, on average. It has moved up 28% in the past year.
Sierra Wireless, Inc. carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised upward by 237.5% over the past 60 days.
Sierra Wireless pulled off a trailing four-quarter earnings surprise of 58%, on average. The stock has returned 11.5% in the past year.