Zillow’s iBuying flop: Company listed nearly two-thirds of homes below purchase price

Firm is pausing buying for rest of 2021

Questions over the profitability of Zillow’s iBuying practices in the increasingly competitive space appear to be close to the operation’s troubles detailed in an Insider analysis.

Insider examined the company’s listings on October 27 in five markets: Dallas, Houston, Phoenix, Atlanta and Minneapolis. The outlet found almost 64 percent of the homes were listed for sale for less than Zillow paid for them, with a median difference of $16,000...


RSK: Is it a sign of the times? Have housing prices neared their peak or is it just they bought the wrong inventory. In either case Zillow is dropping it`s purchase division and laying of 25% of it`s workforce.

Ken Notes: Real Estate investing requires local professionals with some skin in the game and Zillow`s concept of using data only to make decisions will not serve them well.

- - Volume: 9 - WEEK: 46 Date: 11/9/2021 9:24:50 AM -