Zillow said labor and supply issues in the market have created an “operational backlog for renovations and closings.” The pause will enable the company to catch up on its existing contracts. Continue reading
The company’s shares ended Monday trading at $10.74, down significantly compared to when they debuted about six months ago. The drop reduced Compass’ valuation to $4.2 billion. Continue reading
Compass’ growth over the past three years has been remarkable. It is one of the fastest growing real estate brokerages of all time — yet its stock price continues to decline. Continue reading
In a Securities and Exchange Commission filing on Oct. 4, Opendoor revealed it has entered into an amended mezzanine debt facility with a $3 billion limit. The amended mezzanine debt facility will bridge the gap between Opendoor’s debt and equity finan… Continue reading
A recent viral video suggested iBuyers could jack up the prices of homes. But one expert called the theory “fairly conspiratorial,” and iBuyers themselves said they still have a tiny share of the market. Continue reading
Real estate tech disruptors are investing billions to build integrated brokerage and mortgage experiences. Some have more resources than others, but all have the same scaling bottlenecks. And in the end, the biggest disruptors — and who is most at risk… Continue reading
IBuyers are closer than ever to profitability. But the overwhelming majority of profits are coming from record home price appreciation, which is temporary and appears to be falling.
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Historically, Zillow has maintained a consistent 2.5x agent revenue lead over realtor.com, but in the past quarter that lead has slipped, as realtor.com grew its agent revenues much more than Zillow. Continue reading
The hot real estate market has fueled strong growth across the industry. Compass’ growth is noteworthy, and it demonstrates that though the industry moves slowly, some players move faster than others. Continue reading
The iBuyer also experienced a loss of $144 million between April and June, and sold a total of 3,481 homes. Continue reading