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Zillow Inc (NASDAQ:Z) Hits Record High

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By on Technology & Software

Shares of online realtor Zillow Inc(NASDAQ:Z) are more than 4% higher, reaching a record high of $145.48 in the wake of Monday’s bullish housing market data and a pact with the MLS listing service. 

Pending home sales jumped 6.1% in May, the biggest monthly gain in more than four years, government data showed. The result exceeded Wall Street estimates for a 1% gain. 

Zillow is also getting a boost from its collaboration with MLSListings Inc of Northern California, which will now begin sending listing information directly to Zillow. The 16,000 subscribers to MLSListings will share information on the Zillow Real Estate Network and its suite of mobile apps and Zillow partners. 

While Zillow is outperforming other stocks in the sector, housing and housing related stocks are getting a lift as well from the housing data with shares of D.R. Horton (DRI), Comstock Holding (CHCI), and Trulia (TRLA) all trading with constructive gains. 

Z was last quoted just below its record high in afternoon trading, with a new 52-week range of $54.38 to $145.18.

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