While the housing market has come roaring back in the pandemic, iBuying activity hasn't.
Volumes and market share of iBuying activity is likely to finish 2020 at 50% less than that of 2019, according to real estate tech strategist Mike DelPrete, who studies iBuying activity in real estate.
Meanwhile, traditional home sales for existing homes and new homes have been running above last year’s levels.
iBuyers make instant cash offers to sellers who wish to bypass the traditional MLS marketing route, often for assurance of a quicker sale.
However, homeowners tend to pay higher fees for the convenience.
iBuying will be available to buyers for a while, but will buyers and sellers even care?
Source: Mikedp.com
ibuyers lose half their market share
