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