Zillow Shares Plummet Toward 52-Week Lows Amid Housing Market Woes

Zillow Group shares have fallen sharply toward their 52-week lows, potentially making them more attractive to investors.

The Class C and A shares of Zillow are trading around $30 each, just above their respective 52-week lows of $29. The housing market remains challenging due to the Federal Reserve's recent rate hike, which has pushed the average 30-year fixed mortgage rate up to 6.95%.

Zillow's valuation has become more appealing after the selloff, with shares trading at around 13X forward earnings and near 2X forward sales, both metrics that are lower than the S&P 500.