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Zillow’s Flipping Halt Marks Major Collapse in Housing Push

  • Company’s shares plummet on news it’s abandoning iBuying
  • CEO tells investors home prices were tough to predict
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Zillow Shuts Down Home-Flipping Operation
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It was the startling culmination of a turbulent few weeks for America’s most famous real estate company: Zillow Group Inc. pulled the plug on its tech-powered home-flipping operation.

The decision, reached by the board of directors on Tuesday morning, sent the company’s shares plummeting. It also raised big questions about what comes next for Seattle-based Zillow, which had staked its future on the idea that its data scientists could power a business that buys and sells thousands of homes a month.