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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A new report from Zillow found that the nation’s four largest iBuyers reached a 1 percent market share in the second quarter of 2021, setting the stage for record-breaking sales in Q3. Continue reading
The iBuying giant will keep the teams and technology from Skylight and Pro.com, but will discontinue the brands themselves. Continue reading
Homesellers using Opendoor can now complete their interior home inspection through uploaded videos and photos, according to a company announcement on Tuesday. Continue reading
The debt offering — in the form of senior convertible notes that mature in 2026 — will include a $750 million private offering to qualified institutional investors. 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
Home prices are rising across the U.S., and iBuyers, led by Opendoor, Zillow and Offerpad, are paying record-high, above market values for the homes they’re buying, but they’re also reselling them for more money than ever before. Continue reading
The rental management giant is merging with TPG Pace Solutions in a bid to go public via a special purpose acquisition company, or SPAC. Continue reading
For anyone concerned that the iBuyer model wouldn’t be popular in a seller’s market, the evidence shows that it is resonating with consumers more than ever, and market conditions are in fact fueling its growth. Continue reading
Amid a highly competitive market in the first half of 2021, iBuyers began making more competitive offers and expanding the range of homes they were willing to purchase. Continue reading