Just saw Zillow authorized another $1.25B in stock buybacks and honestly the market's eating it up. Stock jumped 4% on the news, now trading around $47.76. What caught my eye is they've already burned through $626M in repurchases since January, picking up 3.8M Class A shares at $47.84 and 9.7M Class C shares at $45.92. Pretty aggressive pace. So after this new authorized amount, they've got roughly $1.3B left in total buyback capacity going forward. Real estate companies have been quietly aggressive with capital returns lately, and Zillow's definitely not sitting on cash. The fact that they authorized this extra tranche suggests management thinks the stock's reasonably valued at these levels. Interesting signal if you're watching the sector.