(Reuters) - Zillow Group Inc on Thursday raised its revenue forecast for the unit that manages the business of buying and selling homes after the onli.
Real-estate tech giant Zillow announced on Tuesday that it will be exiting its home-flipping business, saying its business model to buy and sell homes rapidly did not work out as planned. See: 50.
Real-estate firm Zillow Group Inc. is exiting from the home-flipping business, saying Tuesday that its algorithmic+ model to buy and sell homes rapidly doesn’t work as planned.
The move to offload a block of homes comes as Zillow seeks to recover from an operational stumble that saw it buy too many houses, with many now being listed for less than it paid.