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Zillow Stock Gets Downgraded as Low Home Affordability a Headwind

Por: MarketWatch Business January 10, 2024

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The analyst cited the stock’s year-over-year gain as one reason for his downgrade, stating that shares of the online real estate marketplace already have priced in a housing market recovery. A part of that housing market recovery has to do with declining mortgage rates. The average is at 6.6%, according to Freddie Mac, a drop from October’s 7.8% high. However, “near record low home affordability could limit volume upside (even w/ lower... + full article



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