/Zillow Quits Home-Flipping Business, Cites Inability to Forecast Prices – The Wall Street Journal

Zillow Quits Home-Flipping Business, Cites Inability to Forecast Prices – The Wall Street Journal


Real-estate firm Zillow Group is exiting from the home-flipping business, saying Tuesday that its algorithmic model to buy and sell homes rapidly doesn’t work as planned.

The firm’s termination of its tech-enabled home-flipping business, known as “iBuying,” follows Zillow’s Oct. 18 announcement that it was halting all new home purchases for the rest of the year. At the time, Zillow pointed to labor and supply shortages for its inability to renovate and flip houses fast enough.

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