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More iBuyers Re-emerging with Instant Offers

NEW YORK – Following on the heels of Opendoor’s announcement that it would resume buying activity earlier this week, more iBuying firms are coming back after a month-long hiatus. Their reemergence is countering some housing analysts’ predictions that called the model a likely casualty of the COVID-19 pandemic.

Many of the iBuying companies that halted instant all-cash offers to homeowners as the COVID-19 outbreak began are preparing to gradually return to the markets they were in before.

RedfinNow and Offerpad are among those announcing that they’ll resume making all-cash offers to homeowners this week. RedfinNow relaunched its service on Thursday in Austin, Denver, and the “Inland Empire” east of Los Angeles.

On March 18, Redfin announced it would temporarily pause making offers on homes due to the pandemic. Redfin CEO Glenn Kelman told investors on an earning call Thursday that the “issue for Redfin hasn’t been customer interest. We have never put anything on our website that homeowners responded to more eagerly than a cash offer. The issue has been just how we respond to that interest.”Are

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