What Arizona homebuyers can expect now that Zillow exits home flipping business | Arizona News


PHOENIX (3TV/CBS 5) — Zillow has decided to stop buying homes and flipping them for resale. This comes as the company says they are unable to predict housing prices accurately.

Zillow is known as a place to check houses for sale in your area, but people have been able to sell their homes to the company for the past two years. That will no longer be an option. The company reported a third-quarter net loss of over $328 million alone, all related to its home buying unit. Now Zillow has decided to go back to its roots.

Zillow slams the brakes on home buying as it struggles to manage its backlog of inventory

“Ultimately, I think this was a great test for them, and now they’ll hopefully go back to their roots of what got them to where they are today, which is easy access…

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