Zillow: 3 Key Takeaways for Long-Term Investors

Zillow reported Q3 2026 revenue of $724 million with strong growth in rentals (26% YoY to $220M) and mortgage originations (55% growth). The company's Preferred Partner model generates 35% more revenue per connection than legacy ads. Despite housing market softening, management focuses on cost discipline and expanding higher-margin services including rentals, real estate software, and mortgage offerings to drive long-term growth.