Signs Of The End: Zillow Has Become Huge Loss-Making House-Flipper

While its offers may be a bit on the low side, Zillow has actually had more success buying homes than reselling them. In the program’s first nine months in 2018, Zillow purchased 686 homes and sold just 177 of them, at an average price of $295,800—bringing in $52.4 million, with a pretax loss of $62.4 million. (Overall Zillow lost $151 million pretax last year.) In the first quarter of 2019, Zillow purchased 898 homes and sold 414. Home revenue for the quarter was $128.5 million, with a pretax loss of $45.2 million. Zillow ended the quarter with 993 homes in inventory, worth approximately $325 million.






David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.