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Zillow selling off homes as it shutters house-flipping business
By Seattle Times business reporter About a month after announcing it would shutter its failed home-flipping business, Zillow says it has sold or is in the process of selling about half the homes it planned to offload. The Seattle-based real estate company announced early last month it planned to close down Zillow Offers, its attempt at an algorithm-driven version of home-flipping known as iBuying. After months of upbeat comments about the business, Zillow executives said they had faced longer than expected timelines to fix up and resell homes and the company’s algorithm had failed to accurately predict prices. Zillow planned to lay off 25{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} of its staff as a result.…