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

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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 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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