Zillow Going Lower
How Low Can You Zillow? – Part II: The $34 Support Test
Published: May 14, 2026
Well, folks… we warned you.
If you caught the first “How Low Can You Zillow” post, you know we’ve been watching this slow-motion car crash in real time. Today, May 14, 2026, Z is back in freefall mode, kissing fresh 52-week lows around $37.50–$38.00. Down another 2–3% today. Year-to-date? Roughly -44%. Oof.
The stock that once felt invincible during the 2020–2021 housing mania is now trading like a distressed asset.
Where We Stand Right Now
- Price: ~$37.80 (intraday)
- 52-Week Range: $37.50 – $72+
- Next Logical Support: $34.00
- Technical Picture: Ugly. Oversold RSI, but missing capitulation volume.
The housing market simply refuses to cooperate. Mortgage rates are still stubbornly high, existing home sales are anemic, and Zillow’s core Premier Agent revenue — while growing — isn’t growing fast enough to offset the gloom.
Recent earnings beat on the top and bottom line, but the market shrugged and kept selling. Guidance, legal expenses, and questions around the pace of the rentals/mortgage diversification spooked investors. Classic growth-stock punishment in a "higher-for-longer" rate environment.
Should You Get Out (With Plans to Get Back In)?
If you’re still holding from higher levels, this is the exact spot where discipline matters more than hope.
- Momentum is brutal; $37 breach opens the door to $34.
- Lock in losses to redeploy capital elsewhere.
- Better re-entry potential 10-15% lower.
- Long-term price targets still sit at $70+.
- Insider buying (Spencer Rascoff) sub-$40.
- Strong balance sheet & active buybacks.
My personal playbook right now: Take risk off the table. Sell enough to sleep at night, keep a smaller position if you’re a believer, and get ready to reload aggressively if it tags $34–$35 with signs of stabilization.
"Housing cycles turn slowly, but they do turn. When mortgage rates eventually ease, Zillow’s operating leverage is massive."
The Bottom Line
This feels like the “how low can you go” phase of the cycle — the part where weak hands get shaken out and patient capital gets positioned.
I’m not buying yet… but I’m building my shopping list for the $34 zone.
Drop your average cost or position size in the comments if you want some tailored thoughts!
Stay disciplined out there.
— Your friendly neighborhood Zillow skeptic
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