It bottomed meaningfully in 2011-2012-2013 and was only a trading bottom in 2014.
We could see the same pattern again this year, and today is the earliest bottom that we saw from last year.
Real estate is a business and now that employment statistics are turning up with today's 271,000 jobs number, maybe it will make investors look around the corner at beneficiaries of strong wage growth.
Overall: Risk is high because Zillow is a volatile stock and trades in a roughly 5% range each day. The 2015 range is about 100% (from 21-42) versus the S&P500 at only 15% high to low. So, it is 6 TIMES more volatile than the stock market on an annual basis and 4 times more on a daily trading basis. So keep that in mind.
EPS have already been reported and the stock had better than expected (actually a loss of 9 cents, but expectations were for a loss of 18 cents). So you don't have "earnings risk" at the moment, which is a bonus.
I'm buying half here and leaving half to buy sometime later this month or early next month. ZG is up to 27.70 as I type now and I started typing when it was 27.25 at the low of the day. My point: The stock is volatile.
You can also look at symbol: Z which is also Zillow. There are voting shares and non-voting shares. The non-voting shares are the lower priced of the two.
10:22AM EST November 6, 2015 ZG 27.53bid x 27.57ask last.