Zillow Plunges 25%…Is This A Sign The Housing Market Going To Collapse?

ZILLOW laying off quarter of staff…

Real estate website Zillow will lay off nearly one-quarter of its staff as it prepares to stop buying and selling homes, according to The New York Times.

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The company made the announcement on Tuesday, citing heavy losses, the Times reported.

Zillow Offers, a division of the company that allowed instant offers to be made on homes, reportedly took a loss of more than $420 million during the three months ending in September. In the 12 months prior, the company brought in approximately the same amount.


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