Zillow's exit from the home-buying business earns a wave of downgrades from surprised analysts

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New for subscribers: Zillow's exit from the home-buying business earns a wave of downgrades from surprised analysts. Check out CNBCPro today.

The Zillow app on a mobile phone arranged in Dobbs Ferry, New York, U.S., on Saturday, May 1, 2021.

 

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Zillow Ending Home-Flipping Business, Will Lay Off 25% Of StaffZillow Group says it will stop buying and selling homes, citing the unpredictability of forecasting housing prices. you can blame hgtv for your abject FAILURE IN THE FLIPPING BIZ zillow HGTV showed us you always make $ flipping and total renos only take 30 - 60 minutes I think they were lying to us 🤣 good Their TV ads are so obnoxious!
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Zillow is offloading 7,000 homes — raising 'red flags' about the real-estate marketZillow’s unexpected announcement in October that it was temporarily pausing its home-buying activities raised many analysts’ eyebrows. Now, the company is reportedly offloading thousands of homes at a discount. Zillow is selling homes at a discount to institutional investors so that the homes become rental properties. How awesome would it be if Z were selling homes to first time home buyers currently locked out of the market because companies like Zillow were overpaying for inventory?
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