Zillow Quits Its Homebuying Business as Losses Mount. The Stock Is Plunging.

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https://www.barrons.com/articles/zillow-stock-price-earnings-homes-sale-buy-ibuying-business-51635885709

Updated Nov. 2, 2021 7:55 p.m. ET / Original Nov. 2, 2021 4:42 p.m. ET

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Zillow Group said it would unopen down its homebuying and selling business, citing the company’s inability to accurately foretell aboriginal location prices.

“We’ve determined the unpredictability successful forecasting location prices acold exceeds what we anticipated and continuing to standard Zillow Offers would effect successful excessively overmuch net and balance-sheet volatility,” CEO Rich Barton said Tuesday.

“We...

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