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by ccorda
1682 days ago
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I'd recommend this article for a deeper look at how Zillow and its competitors exhibited different behavior in Phoenix as the market cooled: https://www.mikedp.com/articles/2021/10/19/ibuying-is-hard-z... > As the market cooled between August and September, Opendoor and Offerpad purchased fewer houses, while Zillow purchased more. > The iBuyers also adjusted to changing market conditions by paying less for houses. The median purchase price in Phoenix peaked in August. Opendoor and Offerpad's median purchase price also peaked in August before tracking the market and declining in September. But Zillow kept paying more and more. |
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