Zillow Pausing Home Buying Through Its Offers Service

Online real estate specialist Zillow (NASDAQ: Z)(NASDAQ: ZG) announced Monday that it is putting a temporary stop to home buying through its popular Zillow Offers portal.

As with many other business shutdowns, this is due to the rapid spread of the novel coronavirus throughout the world. Zillow's move is in line with emergency measures taken in many municipalities limiting contacts and gatherings between people aimed at keeping the virus at bay.

Zillow Offers, which the company launched in April 2018, is essentially an express home sale and buying service. Homeowners wanting or needing to get their domicile quickly onto the market sell it directly to Zillow, which turns around and stages it for showings, and after turning it around sells it on to new owners.

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Source Fool.com