Zillow has announced that they will suspend home buying in all 24 markets during the ongoing COVID-19 pandemic. Included in this decision are markets in California, Illinois, Louisiana, Ohio, New York and Nevada, which have implemented stay-at-home orders. In addition, Zillow will cut off opening new markets and conducting open houses. However, the company will continue to market and sell homes through their “Zillow Offers” feature.
By making this decision, Zillow joins Redfin and Opendoor in cutting off home buying during this pandemic.
“We plan to restore Zillow Offers full operations once health concerns pass and local health orders are lifted,” Zillow Group CEO Rich Barton said.
“In the meantime, we are working to support our customers and partners in these uncertain times when home has never been more important,” he added.
“We have a strong balance sheet and cash position, and are taking proactive steps to reduce spending to offset the important financial support we’re giving our industry partners so we may continue to best serve our mutual customers,” he continued.
Thus far, the COVID-19 pandemic has claimed 400 lives in the U.S. Furthermore, there are over 33,000 cases and counting in the U.S.
