Here’s what the recent Zillow news means for our local real estate market.
By now, you may have heard that Zillow, one of the biggest real estate companies in the world, has stopped buying houses. What happened, and what does this mean for our market? Let’s talk about it.
To put things simply, Zillow was overpaying for houses and losing a ton of money. When you have a corporate party overpaying for houses, it can have negative effects on the market. It drives up prices and destabilizes the market.
Their business model wasn’t sustainable, and one of the biggest corporate buyers is no longer in the market. If you are ever in the market to buy or sell a home, this is a good reminder that you should work with a local agent who knows your area like the back of their hand.
We have plenty of great agents on the Titan Real Estate team ready to help you in any way possible. If you ever need anything, just give us a call or shoot us an email. We look forward to hearing from you!
