Zillow is putting a hold on its iBuying operations until the end of the year after reaching “operational capacity” according to a statement by the company. The pause comes three years after Zillow gatecrashed the iBuying market with its Zillow Offers service, which allows homeowners to obtain an instant cash offer on their property and
iBuying bloodbath drags on as losses mount
March 14, 2021 by
So-called iBuying companies continue to rack up major losses, with the two largest companies in the industry, Opendoor and Zillow, losing a combined $607 million from their business of buying up homes and selling them in 2020. That’s according to the latest research from the real estate technology industry strategist Mike DelPrete, who revealed that
