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Zillow is offloading 7,000 homes — raising ‘red flags’ about the real-estate market

·7 min read
Zillow is offloading 7,000 homes — raising ‘red flags’ about the real-estate market
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Zillow’s unexpected announcement in October that it was temporarily pausing its home-buying activities raised many analysts’ eyebrows. The company’s Zillow Offers division is what’s known as an “iBuyer” — it purchases and sells homes directly to consumers, typically renovating them in between. Following a report in mid-October from Bloomberg, Zillow (Z) (ZG) confirmed that its Zillow Offers division would not be signing any additional new contracts to purchase homes through the end of 2021.