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Spurred on by the pandemic, more homeowners are selling to iBuyers — avoiding hordes of strangers traipsing around their house

·3 min read
Spurred on by the pandemic, more homeowners are selling to iBuyers — avoiding hordes of strangers traipsing around their house
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In America’s housing market, it’s good to be an iBuyer. A new report from Zillow (Z) (ZG) analyzed sales activity among four of the largest instant buyers (or iBuyers) in the country: Zillow Offers, Opendoor (OPEN) RedfinNow (RDFN) and Offerpad (OPAD) Not only are these companies seeing record levels of interest in their business model, but many homeowners are opting to sell directly to an iBuyer before even putting their home on the open market. During the second quarter of 2021, the four iBuyers purchased just over 15,000 homes from homeowners, breaking the previous record of roughly 10,400 homes set in the third quarter of 2019 just before the COVID-19 pandemic’s onset.