Zillow jumps as expanded $1.25B buyback revives confidence in housing recovery
Zillow shares are rallying as investors refocus on its expanded capital-return plan, including an additional $1.25 billion share repurchase authorization announced March 5, 2026. The buyback left about $1.3 billion of remaining repurchase capacity as of March 4, 2026, supporting the stock near recent trading levels.
1. What’s moving the stock
Zillow Group’s Class C shares (Z) are higher today as traders lean into a capital-return narrative: the company authorized an additional $1.25 billion for share repurchases on March 5, 2026. After factoring that increase, Zillow said it had roughly $1.3 billion of remaining capacity for future repurchases as of March 4, 2026—an important support for sentiment while housing-market visibility remains uneven.
2. The key numbers investors are focusing on
In the same March 5 update, Zillow disclosed that from Jan. 1, 2026 through March 4, 2026 it repurchased $626 million of stock, including 9.7 million Class C shares at a weighted-average price of $45.92 and 3.8 million Class A shares at $47.84. With Z trading around the mid-to-high $40s today, the market is treating the program as both a balance-sheet signal and a potential source of ongoing demand for shares.
3. What comes next
The next major near-term catalyst is Zillow’s first-quarter 2026 earnings report, scheduled for May 6, 2026. Investors will be looking for evidence that transaction-related revenue streams can stabilize or re-accelerate into the spring selling season, and for any updated commentary on repurchase pacing and housing-market assumptions.