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Rich Barton at the Zillow Premier Representative Online Forum. (Geekwire Image/ Kevin Lisota) The Seattle property giant beat expectations with $1. 2 billion in profits, up 8%, and incomes per share of $0. 47. Experts anticipated earnings of $1. 1 billion and EPS of $0. 25. Earnings of $52 million was up from a $163 million loss in the year-ago duration.
real estate market amid the pandemic driven by low home mortgage rates and minimal supply of houses. Average home sale rates were up 20% year-over-year for the week ending April 25, while days on market for sold houses hit record lows, according to the most recent data from Redfin. "Looking forward, we think the tailwinds we have actually been discussing from the Fantastic Reshuffling and the offline-to-online innovation migration, to favorable market patterns and bottled-up need for real estate post-pandemic are encouraging of real estate in 2021 and over the long term," Zillow CEO Rich Barton composed in an investors letter.