US market-leading portal company Zillow is to resume its bold iBuyer program in 5 more cities it has been announced this morning. The latest cities to have Zillow Offers available are:
Before the onset of the pandemic in March, Zillow had managed to roll out its iBuyer program, known as Zillow Offers, to 24 markets before being obliged to shut down the program on the 23rd of March. The company began cautiously reintroducing its flagship new program in the middle of May and with today’s announcement Zillow has brought the number of cities in which the program is available back up to the original 24.
Rival Opendoor has only managed to reopen its iBuying operations in 7 markets to date and only time will tell if Zillow’s risk in restarting its capital intensive new model so quickly will pay dividends.