Why Zillow Might Not Buy Houses Again Even After the Pandemic Ends
Zillow (NASDAQ: Z) says new home listings plunged over 27% by the beginning of April compared with last year as the coronavirus pandemic upended the traditional start of the homebuying season.
Having seen the trends develop, the online real estate specialist stopped making offers to buy homes for sale through its Zillow Offers program and began canceling contracts it already had in place to purchase houses.
Although CEO Rich Barton said the company plans "to restore Zillow Offers' full operations once health concerns pass and local health orders are lifted," it's possible the real estate giant's homebuying program might not be resurrected for a very long time.
Source Fool.com
