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This information can vary a lot in different parts of metro Phoenix. Your real estate agent can find the data for your specific city or zip code at The Cromford Report.
Will iBuyers Get Shy This Fall and Help Live-In Buyers?
2 Responses to Will iBuyers Get Shy This Fall and Help Live-In Buyers?
Does this qualify as “getting shy?”
https://www.marketwatch.com/story/zillow-to-stop-flipping-homes-for-good-as-it-stands-to-lose-more-than-550-million-will-lay-off-a-quarter-of-staff-11635885027?mod=home-page
With the Phoenix market being the epicenter of Zillow’s massive losses I wonder how much of the recent price run-up was caused by Zillow?
Certainly Zillow has only been a fraction of the total market but when you’ve got your “marginal buyer” buying 1000’s of houses** and on each of those is willing to over-pay by many $10,000’s it seems like that would be enough to have a really big effect on market prices.
**I think Zillow # of purchases is well into the 1000’s in Phoenix metro, but I haven’t been able to find a reliable number. They still have around 300 on the market virtually all of them are offered at >5% less than they paid. I saw an article saying they had over 1000 in their inventory a couple months ago.
Good points!
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