The market continues to send mixed signals. Here’s what we’re seeing: 

  • Demand is still strong, with a solid presence of non-owner occupant buyers. 
  • The iBuyers have eased up on their buying spree, with Zillow announcing this week that they have put a pause on purchasing through the end of the year. 
  • iBuyers as a whole are holding onto a decent amount of inventory; those homes would be a welcome addition to the tight supply.
  • iBuyers “bought high” in Q1 & Q2, so it may take some time before those homes can be sold without a loss. 
  • Of the homes that iBuyers have put out into the market for sale, many have had price reductions and/or have sold for less that what they were purchased for. 

The next few months will be interesting!