Zillow to pause buying due to labor and supply chain issues
According to a recent RisMedia article, Zillow has announced that it is pausing its home-flipping business, Zillow Offers, due to supply chain issues that are affecting the entire housing market. “We’re operating within a labor-and-supply-constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces,” said Jeremy Wacksman, Zillow’s COO. Zillow’s shares have fallen since the announcement, by as much as 11.4%. With market inventory still low across the country, Zillow’s pause on buying is sure to help smaller brokerages acquire properties for their clients. Due to Omni’s focus and expertise being localized to the Nashville market, we have been able to successfully navigate labor and supply chain issues with our network of trusted vendors. We are keyed into our local community and we have plentiful resources to help prospective investors looking to buy in the Nashville market. We would love the opportunity to earn your business! Take a look at an overview of our real estate invesment services HERE.