Zillow is pausing their home purchases until the end of the year. Zillow stock dropped on the news that they will not buy any more houses until they work off some of their home inventory. Zillow has said that they paused home purchases because of a problem with finding labor to fix and renovate the houses they buy. Other iBuyer companies have not paused their home purchase programs. Did Zillow stop buying homes because of a labor problem or does Zillow think a housing slowdown or housing crash is coming and they want to get rid of their homes before prices drop.
I take a look at some of the houses that Zillow Offers bought and see home much they paid for them and how much they have dropped the asking price in recent weeks. Is this just a small sample or is it indicative of a larger problem? Is Zillow paying too much for people's houses with their Zillow Offers program?


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