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
iBuyers struggle as housing market booms
December 7, 2020 by
iBuying companies are seeing less business amid a booming real estate market, with homes selling in record time frames and at ever-growing prices. Many iBuyers paused their business operations in March amid fears the COVID-19 pandemic would stifle the housing market. But that proved to be the wrong assumption, and when iBuyers reopened, they saw
