Zillow helped drive up Triangle real estate prices, but its decision to exit could lead to deals :: WRAL.com


Zillow is trying to sell hundreds of homes it owns across the Triangle as the company gets out of the instant home buying, or iBuying, business.

The online real estate marketplace cited “unpredictability” in forecasting prices for its decision to halt iBuying.

WRAL News searched online property records and found Zillow listed as the owner of 211 homes in Wake County, 62 in Durham County, 41 in Johnston County and 10 in Orange County.

Zillow has been buying and selling homes in the Triangle for three years, and some in the real estate industry say the company has helped drive up home prices by routinely flipping homes days after buying them – sometimes for tens of thousands of dollars over what it paid.

“There has been a number of homes, probably the vast majority of them, that have been a bit overpriced,” Raleigh realtor Steve Gunter…

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