Zillow Will Pause Home Buying To Preserve Capital
March 23, 2020 3:02 PM
by
Navi Persaud
News

Zillow has suspended home buying in the 24 markets that Zillow offers services are available in. The company issued the halt as a result of the COVID-19 pandemic and also revealed that they are complying with public health orders to help protect the safety of employees, customers and partners.

"Our top priority is ensuring the safety and health of our employees, customers, and partners. Given the concerns for public safety and rapid developments by governments that restrict local real estate activities, we determined it was prudent to pause our home buying to preserve our capital," said Zillow Group CEO and co-founder Rich Barton, in a press release.

"We plan to restore Zillow Offers full operations once health concerns pass and local health orders are lifted. In the meantime, we are working to support our customers and partners in these uncertain times when home has never been more important," he added.

The halt was spurred by states like California, New York and others that issued emergency orders requiring folks to stay home.

"Zillow will continue to market and sell homes through Zillow Offers, but will temporarily suspend plans to open additional Zillow Offers markets," according to the release.

"To help protect Zillow customers and partners, the company halted open houses for its homes in all markets last week."

Zillow-owned homes include proprietary Zillow 3D Home technology, so virtual tours are an option. It is also possible to seek a virtual consultation with local broker and Premier Agent partners of Zillow.

Click to learn more about Zillow's plans to address the COVID-19 crisis.

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