Why Zillow Is a Top Long-Term Buy
Zillow Group (NASDAQ: ZG)(NASDAQ: Z) announced second-quarter earnings on August 5. Despite strong growth, investors responded by selling the stock. It's now down 24% for the year and almost 50% from its all-time high, which represents a great opportunity to buy this transformative technology company for the long term.
Consumers who have been priced out of buying a house recently are likely aware of the red-hot real estate market raging across the U.S. A combination of low interest rates and a shortage of family homes has sent prices soaring, placing enormous pressure on first-time buyers.
Zillow presents a two-fold opportunity. Since it directly buys and sells homes (which is the largest source of its revenue), it offers investors unique exposure to growth in the housing market. But it's also a revolutionary slice of the future as the real estate world trends increasingly toward digitization, so it might be time to swoop in and capitalize while the stock is down.
Source Fool.com
