Bold Names Can Zillow’s 'Super App' Fix a Broken Housing Market?
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Feb 27, 2026 
Jeremy Wacksman, CEO of Zillow who is leading its move into an integrated housing super app. He discusses the housing market’s deep supply shortfall, regional shifts in affordability, Zillow’s push to turn browsing into transactions, rentals as a moat, originating mortgages to streamline closings, and using AI and agent tools to speed up workflows.
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Affordability Is A Supply Problem
- The core affordability problem is an availability problem not just price or rates.
- Zillow estimates the U.S. built almost 5 million fewer homes than household formation since 2008, creating a persistent supply deficit that raises prices.
Housing Markets Are Increasingly Local
- Market conditions are local and diverging instead of uniform nationally.
- Hot seller markets persist in areas with population growth and low listings while other regions see prices and rents fall after heavy building.
Audience To Transactions Drove Zillow Profits
- Zillow grew revenue in a flat housing market by converting more of its large audience into transactions.
- They shifted from pure lead gen to capturing a larger share of transactions and selling more services like rentals and mortgages.