Zillow Group, Inc. reported a total revenue of $2.6 billion for the fiscal year ended December 31, 2025, marking a 16% increase from $2.2 billion in 2024. The growth was primarily driven by a 39% rise in Rentals revenue, which reached $630 million, and a 7% increase in Residential revenue, totaling $1.7 billion. Mortgages revenue also saw a significant boost, increasing by 37% to $199 million, largely due to a 52% rise in total loan origination volume. The company achieved a gross profit of $1.9 billion, up 12% from the previous year, although the gross margin slightly decreased from 76% to 74% due to higher lead acquisition costs.
In terms of operational metrics, Zillow reported 9.6 billion visits to its platforms in 2025, a 3% increase from 2024, and an average of 235 million monthly unique users, reflecting a 6% growth. The company also noted that its Zillow Home Loans division originated $4.8 billion in mortgage loans, with purchase loan originations increasing by 53% year-over-year. The total number of employees as of December 31, 2025, was 7,068, indicating a continued investment in human capital to support its growth strategy.
Strategically, Zillow has focused on enhancing its integrated transaction experience, particularly in its Enhanced Markets, where it has seen increased customer connection and conversion rates. The company launched several new products, including enhancements to its BuyAbility tool and the introduction of Zillow Preferred, a pay-for-performance model for real estate agents. Additionally, Zillow expanded its partnerships, including a significant collaboration with Redfin to enhance its rental listings.
Despite the positive financial performance, Zillow faces challenges from a macroeconomic environment characterized by low housing inventory, elevated mortgage rates, and inflationary pressures, which have affected overall market conditions. The company has acknowledged that these factors could impact future performance, particularly in the residential real estate sector. Looking ahead, Zillow remains committed to investing in technology and expanding its service offerings, with expectations for continued revenue growth in the Rentals and Mortgages segments, particularly as seasonal trends in the housing market begin to take effect in 2026.
About ZILLOW GROUP, INC.
Zillow Group, Inc. is a leading online real estate marketplace providing digital solutions for home buying, selling, renting, and financing. Its core offerings include property listings, home value estimates (Zestimate), and integrated transaction services. Serving consumers, real estate professionals, and lenders, Zillow leverages proprietary data, industry partnerships, and technology to facilitate seamless, end-to-end residential real estate experiences across the U.S.
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