Despite revenue uptick, Redfin posts $60M loss in Q1
Redfin posted a $60 million loss in the first three months of 2020, a period in which the company’s...
iBuying
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Zillow CEO on coronavirus crisis: “We have passed peak fear”
Zillow’s losses ballooned to $163.3 million during the first quarter despite record revenue from its now-halted iBuying business. That’s...
Offerpad to resume home-buying
Following in the footsteps of rival Opendoor, another iBuyer will resume home buying this week. Arizona-based Offerpad said it will restart purchases after suspending that part of its operation in March due to the...
Return of the iBuyers: Opendoor gets back to buying
Opendoor is back in businesses and ready for remote sales. The SoftBank-backed iBuyer, which suspended home purchases in March,...
Is it over for iBuying? Pandemic causes major players to hit pause
It was just a few months ago that Zillow was being asked every five minutes to place an offer...
Opendoor lays off 35% of staff
Opendoor, perhaps the most prominent and well-funded startup in the instant-homebuying business, just laid off about 600 employees, a month after the coronavirus pandemic forced it to abort home purchases. “Though this was difficult...
Redfin sells $110M stake to VC firm
Redfin just got a $110 million shot in the arm from an influential backer, as the discount brokerage looks to ride out economic turmoil caused by coronavirus. The Seattle-based brokerage said Monday that Durable...
Zillow latest iBuyer to press pause
After watching rivals Opendoor and Redfin drop out of the iBuying game, Zillow Group said Monday that it would also suspend home-buying amid the coronavirus pandemic. In a statement, co-founder and CEO Rich Barton...
Realogy is latest iBuyer to suspend cash offers
Realogy is the latest iBuyer to stop making cash offers for houses amid the market turmoil sparked by the...
Redfin pulls plug on iBuying program
Discount brokerage Redfin Corp. is suspending its instant home-buying program amid economic turmoil sparked by the coronavirus pandemic. The Seattle-based firm, led by CEO Glenn Kelman, made the announcement Wednesday, according to the Wall...
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