Zillow said it was facing a backlog of renovations and dealing with operational-capacity issues. What Zillow's Buying Freeze, Layoffs Say About the Housing Market
Its 'iBuyer' platform has led to two-thirds of the homes it listed for sale featuring an asking price below what Zillow paid.
November 04, 2021 at 07:23 AM
5 minute read
The original version of this story was published on Law.com
Zillow'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, Marketwatch reported Wednesday.
It also announced it would lay off 25% of its workforce over the next few quarters.
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