Zillow ends home-flipping business, citing inability to predict prices

Real estate firm Zillow Group is pulling out of the home-flipping business, saying Tuesday that its algorithmic model for buying and selling homes is quickly not working as planned.

The company’s termination of its tech-enabled home-flipping business, known as “iBuying,” follows Zillow’s Oct. 18 announcement that it stopped all new home purchases for the rest of the year. At the time, Zillow pointed to a shortage of labor and supplies for his inability to renovate and turn houses quickly enough.

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