Are ibuyers manipulating the housing market?
Todd and Oana talk about how there is a lack of transparency in sales prices of homes purchased by iBuyers (companies like Zillow, Opendoor, OfferPad etc) because there is no way to find out what fees they charged the seller when they purchased the house. Those fees are critical because they help determine the market price for a home. Not including fees in the sale price, which the MLS shows, can skew the value of a home sale and make it appear to have sold for more money that actual.
IBuyers and hedge funds have entered the home buying market in record numbers and home prices have skyrocketed in the last couple years. It is estimated that almost 10% of all home purchases for resale homes are ibuyers in some markets.