Zillow says it's facing supply and labor constraints. But other iBuyers, who expressed surprise over Zillow's abrupt pause, say they aren't suffering from the same issues
Zillow said labor and supply issues in the market have created an 'operational backlog for renovations and closings.' The pause will enable the company to catch up on its existing contracts
The company's shares ended Monday trading at $10.74, down significantly compared to when they debuted about 6 months ago. The drop reduced Compass' valuation to $4.2B
Compass' growth over the past 3 years has been remarkable. It is one of the fastest growing real estate brokerages of all time — yet its stock price continues to decline
Opendoor is on the hunt for more funds, according to a Bloomberg report. The iBuyer's new debt facility agreement will boost its borrowing power to $9B
A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory 'fairly conspiratorial,' and iBuyers themselves said they still have a tiny share of the market
Real estate tech companies are going after mortgage, but now mortgage is going after real estate
IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which won't last and is on the decline
Opinion
The lead may have slipped, but the truth is that both companies are extracting more revenue from agents than ever before
The hot real estate market has fueled strong growth across the industry. Compass' growth is noteworthy, and it demonstrates that though the industry moves slowly, some players move faster than others
The iBuyer also experienced a loss of $144M between April and June and sold a total of 3,481 homes
Home prices are record high, and iBuyers are paying above market values for the houses they buy, but they're also reselling them for more than ever before
Driven by high purchase and sale volumes and the rise in home values, iBuyers will have blowout quarters with record revenues
Amid a highly competitive market in the first half of 2021, iBuyers began making more competitive offers while expanding the range of homes they were willing to purchase
Many companies are responding to today's shift in consumer demand by launching their own instant-offer, cash-offer and trade-in programs