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HomeDigital AdvertisingZillow sees slowing demand for ads in housing downturn

Zillow sees slowing demand for ads in housing downturn

Zillow, led by CEO Rich Barton, makes most of its money by selling marketing services to real estate agents, who may reduce ad spending as they adjust to the slower market.

While demand indicators stabilized in July compared to June, the company expects the dollar volume of transactions industrywide to “meaningfully contract” in the second half from a year earlier, Barton said in a letter to shareholders.

Zillow’s big bet on iBuying, a tech-powered spin on home-flipping, crashed and Barton shuttered the business in November, pivoting to a housing “super app” to integrate tools consumers and agents use to navigate the buying or selling process.

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