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Zillow to sell off hundreds of Orlando homes after homebuying division crumbles

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Real estate data giant Zillow Group Inc. plans to offload nearly 500 homes in metro Orlando after it announced it will shut down its homebuying operations.

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The Seattle-based company’s related firm Zillow Homes Property Trust owns at least 454 homes in Lake, Orange, Osceola and Lake counties, according to property appraiser data from each county.

Zillow CEO Rich Barton announced the company will shutter its Zillow Offers business, which was buying and selling homes in markets including Orlando, during a Nov. 2 call with investors.

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Next, Zillow (Nasdaq: ZG) will sell off the 7,000 homes it owns nationwide, Bloomberg reported.

Click here to read Alex Soderstrom’s story on the Orlando Business Journal’s website.

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