According to Bloomberg, Zillow Group Inc. is taking a break from buying U.S. homes after the online real estate giant’s pivot into tech-powered house-flipping hit a snag.
- How many homes did Zillow acquire in the second quarter of this year?
- What happened to Zillow stock after this announcement on Monday, Oct. 18? How does this compare to 2020 performance?
- What is Zillow Offers and how does it work?
- Who is Zillow Offers competitor?
- What are some of the controversies associated with Zillow?
- Briefly explain why Zillow is pausing its homebuying.
Clark, P. (2021) Zillow Pauses Homebuying as Tech-Powered Flipping Hits Snag. Bloomberg News, Oct. 18 (Retrievable online at https://finance.yahoo.com/news/zillow-pauses-home-purchases-snags-160557830.html)