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2021-10-19

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Zillow slipped over 11% in early trading<blockquote>Zillow早盘下跌逾11%</blockquote>

Zillow slipped over 11% in early trading after after the online real-estate company told Bloomberg t

Zillow slipped over 11% in early trading<blockquote>Zillow早盘下跌逾11%</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":850849498,"tweetId":"850849498","gmtCreate":1634575645652,"gmtModify":1634609652797,"author":{"id":3581589791636658,"idStr":"3581589791636658","authorId":3581589791636658,"authorIdStr":"3581589791636658","name":"LBear","avatar":"https://static.tigerbbs.com/d72234592d914855ae6961fe2dd96980","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":7,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Goof</body></html>","htmlText":"<html><head></head><body>Goof</body></html>","text":"Goof","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/850849498","repostId":1115206110,"repostType":4,"repost":{"id":"1115206110","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1634565494,"share":"https://www.laohu8.com/m/news/1115206110?lang=zh_CN&edition=full","pubTime":"2021-10-18 21:58","market":"us","language":"en","title":"Zillow slipped over 11% in early trading<blockquote>Zillow早盘下跌逾11%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115206110","media":"Tiger Newspress","summary":"Zillow slipped over 11% in early trading after after the online real-estate company told Bloomberg t","content":"<a href=\"https://laohu8.com/S/Z\">Zillow</a> slipped over 11% in early trading&nbsp;after&nbsp;after the online real-estate company told Bloomberg that it won’t purchase homes for the rest of the year, saying that it was “beyond operational capacity.”<blockquote><a href=\"https://laohu8.com/S/Z\">Zillow</a>这家在线房地产公司告诉彭博社，今年剩余时间不会购买房屋，称其“超出了运营能力”，早盘交易中股价下跌超过11%。</blockquote> <img src=\"https://static.tigerbbs.com/0f9f19862649f5b746719782994812fd\" tg-width=\"1043\" tg-height=\"566\" referrerpolicy=\"no-referrer\"><blockquote></blockquote> Related:&nbsp;Zillow Gets Outplayed at Its Own Game<blockquote>相关： Zillow在自己的游戏中被击败</blockquote> Zillow, it seems, has over-flipped.<blockquote>Zillow似乎已经过度翻转了。</blockquote> The company that has prided itself on its technology to outsource a lot of human work is suddenly referring the work right back to humans. Zillow Group’s automated home-flipping business has stopped pursuing new home acquisitions temporarily, Bloomberg reported on Sunday. In a statement for this article, a Zillow spokesperson said in an email it is “beyond operational capacity in [its] Zillow Offers business.” Zillow said it is now connecting homeowners looking to sell their home to its local Premier Agent partners.<blockquote>这家以其外包大量人类工作的技术而自豪的公司突然将工作重新交给了人类。据彭博社周日报道，Zillow Group的自动化房屋翻转业务已暂时停止寻求新房收购。在本文的一份声明中，Zillow发言人在一封电子邮件中表示，Zillow提供的业务“超出了运营能力”。Zillow表示，它现在正在将希望将房屋出售给当地顶级代理合作伙伴的房主联系起来。</blockquote> The pause seems to be a case of poor planning—a surprising lapse for a company that has been in the online real-estate business for nearly 17 years. Rather than a cash issue, Zillow is saying it experienced supply constraints having to do with on-the-ground workers and vendors. Leave it to atechnology companyto develop an algorithm to predict home values, but mismanage the human aspect of its business.<blockquote>这一暂停似乎是规划不周的一个例子——对于一家从事在线房地产业务近17年的公司来说，这是一个令人惊讶的失误。Zillow表示，它遇到的不是现金问题，而是与现场工人和供应商有关的供应限制。让科技公司开发一种预测房屋价值的算法，但对其业务的人的方面管理不善。</blockquote> To add insult to injury, Zillow’s biggest competitor seems to be handling high volumes just fine.Opendoor TechnologiesOPEN+2.52%said it is “open for business and continues to scale and grow,” noting it has worked hard over the past seven years to ensure it can continue to deliver as it expands. While Zillow long predates Opendoor as a company, it mainly offered an online marketing platform for agents before adding iBuying in 2018.<blockquote>雪上加霜的是，Zillow最大的竞争对手似乎处理高销量还不错。Opendoor TechnologiesOPEN+2.52%表示，该公司“已开始营业，并继续扩大规模和增长”，并指出该公司在过去七年中一直在努力确保随着扩张它可以继续提供服务。虽然Zillow作为一家公司早于Opendoor，但在2018年加入iBuying之前，它主要为代理商提供在线营销平台。</blockquote> Zillow said it purchased a record number of homes in the second quarter at 3,805, but that still paled in comparison to the 8,494 homes Opendoor purchased in the same period. It doesn’t seem as though the near-term business hascompletely flopped: The company says it is continuing to process the purchases of homes from sellers who are already under contract as quickly as possible. That means home purchases could still continue to grow sequentially in the fourth quarter, even with the pause. Zillow hasn’t publicly commented on its fourth-quarter buying forecast, but has said its third-quarter outlook implies a “step up” in purchase activity.<blockquote>Zillow表示，第二季度购买了创纪录的3,805套房屋，但与Opendoor同期购买的8,494套房屋相比，这一数字仍然相形见绌。近期业务似乎并没有完全失败：该公司表示，它将继续尽快处理已签订合同的卖家购买的房屋。这意味着即使暂停，第四季度的购房仍可能继续环比增长。Zillow尚未公开评论其第四季度的购买预测，但表示其第三季度的前景意味着购买活动将“加速”。</blockquote> Rather than flip out, iBuying investors may want to look at Zillow’s news as an opportunity for its competitors. Opendoor is now active in 44 markets, including all but two of Zillow’s 25 markets. Zillow’s pause therefore spells a golden opportunity for Opendoor. Zillow hasn’t yet said when it will resume new home purchases, but an email from a Zillow Offers Advisor to an agent seen by the Journal suggests the pause will last through the end of 2021 at the least.<blockquote>iBuying投资者可能不会惊慌失措，而是希望将Zillow的消息视为其竞争对手的机会。Opendoor目前活跃在44个市场，包括Zillow 25个市场中除两个市场外的所有市场。因此，Zillow的暂停对Opendoor来说意味着一个千载难逢的机会。Zillow尚未表示何时恢复新房购买，但《华尔街日报》看到的Zillow Offers顾问发给经纪人的一封电子邮件表明，暂停将至少持续到2021年底。</blockquote> Zillow’s mismanagement also highlights a key strength for smaller competitorOfferpad Solutions.OPAD+0.73%Led by a former real-estate agent, that company has longtouted its ground game. Offerpad, which is now a publicly traded company after closing its merger with a special-purpose acquisition company in September, seems to have been ahead of the curve in terms of understanding how many workers to employ and where, which repairs need to get done and how to execute them efficiently. An analysis by BTIG Research shows Offerpad’s contribution profit per home sold was over 4.7 times that of Zillow’s last year.<blockquote>Zillow的管理不善也凸显了规模较小的竞争对手Offerpad Solutions的一个关键优势。该公司由一位前房地产经纪人领导，长期以来一直吹捧其地面游戏。Offerpad在9月份完成了与一家特殊目的收购公司的合并后，现在是一家上市公司，在了解雇用多少工人、在哪里、需要进行哪些维修以及如何有效地执行这些维修方面，它似乎已经走在了潮流的前面。BTIG Research的一项分析显示，Offerpad每售出一套房屋的贡献利润是Zillow去年的4.7倍以上。</blockquote> But the news is also a signal that investors may want to start to tread more lightly around what has thus far been a banner year for the sector. The reality is that iBuyers have incredible amounts of market data, can plan acquisitions and inventory months in advance and have a number of levers to pull to slow or accelerate the business, according to Mike DelPrete, a real estate tech strategist and scholar-in-residence at the University of Colorado Boulder. Given that, it is unusual that Zillow’s pause happened so suddenly and across all its markets.<blockquote>但这一消息也是一个信号，表明投资者可能希望开始对该行业迄今为止表现出色的一年采取更轻松的态度。房地产技术策略师兼学者迈克·德尔普雷特(Mike DelPrete)表示，现实情况是，iBuyers拥有令人难以置信的大量市场数据，可以提前几个月计划收购和库存，并拥有许多杠杆来减缓或加速业务。科罗拉多大学博尔德分校的住院医师。有鉴于此，Zillow的暂停发生得如此突然且遍及其所有市场是不寻常的。</blockquote> The U.S. real-estate market has finallystarted to cool a bit. On Friday, Redfin reported the median home sale price rose 14% year-over-year in September—the lowest growth rate since December 2020. Meanwhile, closed home sales and new listings of homes for sale both fell from a year earlier, by 5% and 9% respectively.<blockquote>美国房地产市场终于开始降温。周五，Redfin报告称，9月份房屋销售价格中位数同比上涨14%，为2020年12月以来的最低增长率。与此同时，已完成房屋销售和新挂牌待售房屋均较上年同期下降，分别下降5%和9%。</blockquote> Thus far, no other major iBuyer has said it was pausing new acquisitions this year. As Mr. DelPrete notes, it is possible Opendoor and Offerpad began to slow their own buying commitments as the market started to change, whileZillow missed the signs. More likely, Zillow, which has consistently prophesied what it calls the “Great Reshuffling” amid a permanence in remote work, just neglected to do its own reshuffling on the ground.<blockquote>到目前为止，还没有其他主要iBuyer表示今年将暂停新的收购。正如DelPrete先生指出的那样，随着市场开始发生变化，Opendoor和Offerpad可能开始放慢自己的购买承诺，而Zillow则错过了这些迹象。更有可能的是，Zillow一直预言在远程工作的持久性中进行评级的“大洗牌”，只是忽略了在地面上进行自己的洗牌。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zillow slipped over 11% in early trading<blockquote>Zillow早盘下跌逾11%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZillow slipped over 11% in early trading<blockquote>Zillow早盘下跌逾11%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-10-18 21:58\n</div>\n</a>\n</h4>\n</header>\n<article>\n<a href=\"https://laohu8.com/S/Z\">Zillow</a> slipped over 11% in early trading&nbsp;after&nbsp;after the online real-estate company told Bloomberg that it won’t purchase homes for the rest of the year, saying that it was “beyond operational capacity.”<blockquote><a href=\"https://laohu8.com/S/Z\">Zillow</a>这家在线房地产公司告诉彭博社，今年剩余时间不会购买房屋，称其“超出了运营能力”，早盘交易中股价下跌超过11%。</blockquote> <img src=\"https://static.tigerbbs.com/0f9f19862649f5b746719782994812fd\" tg-width=\"1043\" tg-height=\"566\" referrerpolicy=\"no-referrer\"><blockquote></blockquote> Related:&nbsp;Zillow Gets Outplayed at Its Own Game<blockquote>相关： Zillow在自己的游戏中被击败</blockquote> Zillow, it seems, has over-flipped.<blockquote>Zillow似乎已经过度翻转了。</blockquote> The company that has prided itself on its technology to outsource a lot of human work is suddenly referring the work right back to humans. Zillow Group’s automated home-flipping business has stopped pursuing new home acquisitions temporarily, Bloomberg reported on Sunday. In a statement for this article, a Zillow spokesperson said in an email it is “beyond operational capacity in [its] Zillow Offers business.” Zillow said it is now connecting homeowners looking to sell their home to its local Premier Agent partners.<blockquote>这家以其外包大量人类工作的技术而自豪的公司突然将工作重新交给了人类。据彭博社周日报道，Zillow Group的自动化房屋翻转业务已暂时停止寻求新房收购。在本文的一份声明中，Zillow发言人在一封电子邮件中表示，Zillow提供的业务“超出了运营能力”。Zillow表示，它现在正在将希望将房屋出售给当地顶级代理合作伙伴的房主联系起来。</blockquote> The pause seems to be a case of poor planning—a surprising lapse for a company that has been in the online real-estate business for nearly 17 years. Rather than a cash issue, Zillow is saying it experienced supply constraints having to do with on-the-ground workers and vendors. Leave it to atechnology companyto develop an algorithm to predict home values, but mismanage the human aspect of its business.<blockquote>这一暂停似乎是规划不周的一个例子——对于一家从事在线房地产业务近17年的公司来说，这是一个令人惊讶的失误。Zillow表示，它遇到的不是现金问题，而是与现场工人和供应商有关的供应限制。让科技公司开发一种预测房屋价值的算法，但对其业务的人的方面管理不善。</blockquote> To add insult to injury, Zillow’s biggest competitor seems to be handling high volumes just fine.Opendoor TechnologiesOPEN+2.52%said it is “open for business and continues to scale and grow,” noting it has worked hard over the past seven years to ensure it can continue to deliver as it expands. While Zillow long predates Opendoor as a company, it mainly offered an online marketing platform for agents before adding iBuying in 2018.<blockquote>雪上加霜的是，Zillow最大的竞争对手似乎处理高销量还不错。Opendoor TechnologiesOPEN+2.52%表示，该公司“已开始营业，并继续扩大规模和增长”，并指出该公司在过去七年中一直在努力确保随着扩张它可以继续提供服务。虽然Zillow作为一家公司早于Opendoor，但在2018年加入iBuying之前，它主要为代理商提供在线营销平台。</blockquote> Zillow said it purchased a record number of homes in the second quarter at 3,805, but that still paled in comparison to the 8,494 homes Opendoor purchased in the same period. It doesn’t seem as though the near-term business hascompletely flopped: The company says it is continuing to process the purchases of homes from sellers who are already under contract as quickly as possible. That means home purchases could still continue to grow sequentially in the fourth quarter, even with the pause. Zillow hasn’t publicly commented on its fourth-quarter buying forecast, but has said its third-quarter outlook implies a “step up” in purchase activity.<blockquote>Zillow表示，第二季度购买了创纪录的3,805套房屋，但与Opendoor同期购买的8,494套房屋相比，这一数字仍然相形见绌。近期业务似乎并没有完全失败：该公司表示，它将继续尽快处理已签订合同的卖家购买的房屋。这意味着即使暂停，第四季度的购房仍可能继续环比增长。Zillow尚未公开评论其第四季度的购买预测，但表示其第三季度的前景意味着购买活动将“加速”。</blockquote> Rather than flip out, iBuying investors may want to look at Zillow’s news as an opportunity for its competitors. Opendoor is now active in 44 markets, including all but two of Zillow’s 25 markets. Zillow’s pause therefore spells a golden opportunity for Opendoor. Zillow hasn’t yet said when it will resume new home purchases, but an email from a Zillow Offers Advisor to an agent seen by the Journal suggests the pause will last through the end of 2021 at the least.<blockquote>iBuying投资者可能不会惊慌失措，而是希望将Zillow的消息视为其竞争对手的机会。Opendoor目前活跃在44个市场，包括Zillow 25个市场中除两个市场外的所有市场。因此，Zillow的暂停对Opendoor来说意味着一个千载难逢的机会。Zillow尚未表示何时恢复新房购买，但《华尔街日报》看到的Zillow Offers顾问发给经纪人的一封电子邮件表明，暂停将至少持续到2021年底。</blockquote> Zillow’s mismanagement also highlights a key strength for smaller competitorOfferpad Solutions.OPAD+0.73%Led by a former real-estate agent, that company has longtouted its ground game. Offerpad, which is now a publicly traded company after closing its merger with a special-purpose acquisition company in September, seems to have been ahead of the curve in terms of understanding how many workers to employ and where, which repairs need to get done and how to execute them efficiently. An analysis by BTIG Research shows Offerpad’s contribution profit per home sold was over 4.7 times that of Zillow’s last year.<blockquote>Zillow的管理不善也凸显了规模较小的竞争对手Offerpad Solutions的一个关键优势。该公司由一位前房地产经纪人领导，长期以来一直吹捧其地面游戏。Offerpad在9月份完成了与一家特殊目的收购公司的合并后，现在是一家上市公司，在了解雇用多少工人、在哪里、需要进行哪些维修以及如何有效地执行这些维修方面，它似乎已经走在了潮流的前面。BTIG Research的一项分析显示，Offerpad每售出一套房屋的贡献利润是Zillow去年的4.7倍以上。</blockquote> But the news is also a signal that investors may want to start to tread more lightly around what has thus far been a banner year for the sector. The reality is that iBuyers have incredible amounts of market data, can plan acquisitions and inventory months in advance and have a number of levers to pull to slow or accelerate the business, according to Mike DelPrete, a real estate tech strategist and scholar-in-residence at the University of Colorado Boulder. Given that, it is unusual that Zillow’s pause happened so suddenly and across all its markets.<blockquote>但这一消息也是一个信号，表明投资者可能希望开始对该行业迄今为止表现出色的一年采取更轻松的态度。房地产技术策略师兼学者迈克·德尔普雷特(Mike DelPrete)表示，现实情况是，iBuyers拥有令人难以置信的大量市场数据，可以提前几个月计划收购和库存，并拥有许多杠杆来减缓或加速业务。科罗拉多大学博尔德分校的住院医师。有鉴于此，Zillow的暂停发生得如此突然且遍及其所有市场是不寻常的。</blockquote> The U.S. real-estate market has finallystarted to cool a bit. On Friday, Redfin reported the median home sale price rose 14% year-over-year in September—the lowest growth rate since December 2020. Meanwhile, closed home sales and new listings of homes for sale both fell from a year earlier, by 5% and 9% respectively.<blockquote>美国房地产市场终于开始降温。周五，Redfin报告称，9月份房屋销售价格中位数同比上涨14%，为2020年12月以来的最低增长率。与此同时，已完成房屋销售和新挂牌待售房屋均较上年同期下降，分别下降5%和9%。</blockquote> Thus far, no other major iBuyer has said it was pausing new acquisitions this year. As Mr. DelPrete notes, it is possible Opendoor and Offerpad began to slow their own buying commitments as the market started to change, whileZillow missed the signs. More likely, Zillow, which has consistently prophesied what it calls the “Great Reshuffling” amid a permanence in remote work, just neglected to do its own reshuffling on the ground.<blockquote>到目前为止，还没有其他主要iBuyer表示今年将暂停新的收购。正如DelPrete先生指出的那样，随着市场开始发生变化，Opendoor和Offerpad可能开始放慢自己的购买承诺，而Zillow则错过了这些迹象。更有可能的是，Zillow一直预言在远程工作的持久性中进行评级的“大洗牌”，只是忽略了在地面上进行自己的洗牌。</blockquote>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Z":"Zillow"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115206110","content_text":"Zillow slipped over 11% in early trading after after the online real-estate company told Bloomberg that it won’t purchase homes for the rest of the year, saying that it was “beyond operational capacity.”\n\nRelated: Zillow Gets Outplayed at Its Own Game\nZillow, it seems, has over-flipped.\nThe company that has prided itself on its technology to outsource a lot of human work is suddenly referring the work right back to humans. Zillow Group’s automated home-flipping business has stopped pursuing new home acquisitions temporarily, Bloomberg reported on Sunday. In a statement for this article, a Zillow spokesperson said in an email it is “beyond operational capacity in [its] Zillow Offers business.” Zillow said it is now connecting homeowners looking to sell their home to its local Premier Agent partners.\nThe pause seems to be a case of poor planning—a surprising lapse for a company that has been in the online real-estate business for nearly 17 years. Rather than a cash issue, Zillow is saying it experienced supply constraints having to do with on-the-ground workers and vendors. Leave it to atechnology companyto develop an algorithm to predict home values, but mismanage the human aspect of its business.\nTo add insult to injury, Zillow’s biggest competitor seems to be handling high volumes just fine.Opendoor TechnologiesOPEN+2.52%said it is “open for business and continues to scale and grow,” noting it has worked hard over the past seven years to ensure it can continue to deliver as it expands. While Zillow long predates Opendoor as a company, it mainly offered an online marketing platform for agents before adding iBuying in 2018.\nZillow said it purchased a record number of homes in the second quarter at 3,805, but that still paled in comparison to the 8,494 homes Opendoor purchased in the same period. It doesn’t seem as though the near-term business hascompletely flopped: The company says it is continuing to process the purchases of homes from sellers who are already under contract as quickly as possible. That means home purchases could still continue to grow sequentially in the fourth quarter, even with the pause. Zillow hasn’t publicly commented on its fourth-quarter buying forecast, but has said its third-quarter outlook implies a “step up” in purchase activity.\nRather than flip out, iBuying investors may want to look at Zillow’s news as an opportunity for its competitors. Opendoor is now active in 44 markets, including all but two of Zillow’s 25 markets. Zillow’s pause therefore spells a golden opportunity for Opendoor. Zillow hasn’t yet said when it will resume new home purchases, but an email from a Zillow Offers Advisor to an agent seen by the Journal suggests the pause will last through the end of 2021 at the least.\nZillow’s mismanagement also highlights a key strength for smaller competitorOfferpad Solutions.OPAD+0.73%Led by a former real-estate agent, that company has longtouted its ground game. Offerpad, which is now a publicly traded company after closing its merger with a special-purpose acquisition company in September, seems to have been ahead of the curve in terms of understanding how many workers to employ and where, which repairs need to get done and how to execute them efficiently. An analysis by BTIG Research shows Offerpad’s contribution profit per home sold was over 4.7 times that of Zillow’s last year.\nBut the news is also a signal that investors may want to start to tread more lightly around what has thus far been a banner year for the sector. The reality is that iBuyers have incredible amounts of market data, can plan acquisitions and inventory months in advance and have a number of levers to pull to slow or accelerate the business, according to Mike DelPrete, a real estate tech strategist and scholar-in-residence at the University of Colorado Boulder. Given that, it is unusual that Zillow’s pause happened so suddenly and across all its markets.\nThe U.S. real-estate market has finallystarted to cool a bit. On Friday, Redfin reported the median home sale price rose 14% year-over-year in September—the lowest growth rate since December 2020. Meanwhile, closed home sales and new listings of homes for sale both fell from a year earlier, by 5% and 9% respectively.\nThus far, no other major iBuyer has said it was pausing new acquisitions this year. As Mr. DelPrete notes, it is possible Opendoor and Offerpad began to slow their own buying commitments as the market started to change, whileZillow missed the signs. More likely, Zillow, which has consistently prophesied what it calls the “Great Reshuffling” amid a permanence in remote work, just neglected to do its own reshuffling on the ground.","news_type":1,"symbols_score_info":{"Z":0.9}},"isVote":1,"tweetType":1,"viewCount":1672,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}