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Per this US Census and HUD report [0], there have between 600k (2018) to 1M (2020) single family home sales per year over the years since Zillow started Offers.
by modriano 5y ago
Per this US Census and HUD report [0], there have between 600k (2018) to 1M (2020) single family home sales per year over the years since Zillow started Offers. Per this Barron's article [1], Zillow bought 9680 homes in Q3 2021 and less than half of that in Q2 2021.
So, yeah, they've probably driven the price up a little bit, but their purchases represent maybe 2% of all sales, so I assume the impact that has on the market in general would be pretty small.
[0] https://www.census.gov/construction/nrs/pdf/newressales.pdf https://www.census.gov/construction/nrs/pdf/newressales.pdf
[1] https://www.barrons.com/articles/zillow-opendoor-stock-price-home-buying-selling-51636148460 https://www.barrons.com/articles/zillow-opendoor-stock-price...
- nerevarthelame 5y agoZillow only bought houses in certain markets (24 different metropolitan areas [1]). So their impact on prices within those regions would've been bigger than what you'd expect by comparing them to all home sales in the US. I admit that I have no idea how much bigger, though. [1] http://zillow.mediaroom.com/2020-08-04-Zillow-Resumes-Buying-Homes-in-4-More-Zillow-Offers-Markets http://zillow.mediaroom.com/2020-08-04-Zillow-Resumes-Buying...