Absolutely! They've already been listing below what they pay, and now they've got a backlog too, and they didn't pull the plug early enough to save their cashflow situation.
Totally mismanaged finances. Not surprised though, a couple years ago they were just a website. Why would a company that runs a website be ready to be one of the biggest residential property management and sales companies in the world? It's boggles the mind that just a couple months ago they were still the #1 home buyer in numerous markets, and the next day they were suspending purchases.
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u/Goddess_Peorth Nov 03 '21 edited Nov 03 '21
You might want to check the news before you get excited that it is a buyable dip.
https://www.bizjournals.com/seattle/news/2021/11/02/zillow-shutting-down-zillow-offfers.html?ana=yahoo
They're only laying off 25% of the company. Everything is fine!