IBuyers account for 1.9% of Q3 home sales

The 27,244 homes that iBuyers purchased in the third quarter represents 1.9 percent of all homes sold in that period, according to Zillow’s Q3 iBuyer Report. IBuyers sold 10,728 homes in the quarter. Both tallies are record quarterly highs for iBuying services. IBuying had a record third quarter, but with Zillow Group sunsetting its home-purchase activity this market share is likely to dip in future quarters as the company winds down its operations. Regardless, the model has shown traction, and, while iBuyers continue to broaden their alternative financing services, the core practice remains a promising endeavor.