Did management discuss any macro‑economic factors (e.g., interest rates, housing inventory) that could influence future performance?

Based on the excerpt you provided, the press‑release summary of Zillow Group’s second‑quarter 2025 results does not contain any statements from management about macro‑economic factors such as interest‑rate trends, housing‑inventory levels, or other broader economic conditions that could affect the company’s future performance. The brief summary only notes that Zillow announced its consolidated financial results for the three months ended June 30 2025 and does not include any commentary on external economic drivers.

If you need a definitive answer about whether management discussed those topics, you would have to review the full earnings release (or the accompanying earnings call transcript) where management typically provides forward‑looking commentary. The snippet you shared does not provide that information.