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The Market Impact of the Closure of Zillow Offers

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by Calculated Risk on 11/03/2021 12:21:00 PM

Today, in the Real Estate Newsletter: The Market Impact of the Closure of Zillow Offers

Excerpt:

Many people are discussing the Zillow’s business decision to discontinue Zillow Offers. This was a essentially a house flipping program. My question is what – if any – will be the market impact of the closure.

But the bottom line is inventories are very low, mortgage rates are still historically low, and demographics are currently favorable for home buying.

If the housing market slows – for whatever reason – I think the slowdown will show up in active existing home inventory. This is why I track local market inventory so closely every month. Some markets have seen inventories increase, but overall active inventory was at a record low for September.

We should get some local October inventory numbers soon.

ISM(R) Services Index Increased to 66.7% in October

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