Thursday, September 23, 2021 4:55 am

iBuyer purchases inch back toward pre-pandemic levels

(Disclosure: Rose Law Group represents Offerpad.)

By Lily Katz | Realtor Magazine

The nation’s top iBuying companies purchased 4,383 homes in the first quarter of 2021—the most recent period for which data is available. While that’s down 6.1% from a year earlier, it’s up 20.6% from the prior quarter—a sign that iBuyers are continuing to ramp up after pausing business at the beginning of the pandemic.

Still, iBuyers make up a tiny portion of the overall housing market, purchasing just 0.5% of homes that sold across the 418 U.S. metropolitan areas tracked by Redfin in the first quarter. That’s down from a peak of 0.8% in the second half of 2019 but up from 0.3% in the fourth quarter of 2020.

This is according to a Redfin analysis of MLS and public-records data on home purchases and sales made by well-known national iBuyers:  RedfinNow (Redfin’s iBuying business), Opendoor, Zillow Offers (Zillow’s iBuying business), Offerpad and Bungalo.

READ ON:

Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories
August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031