By Angela Gonzales | Phoenix Business Journal
About 2,000 homes in metro Phoenix are owned by the so-called iBuyers, representing a $2 billion investment, according to New York City data analytics firm Parcl Labs.
The term iBuyers refers to companies that use tech-focused programs to buy and sell houses quickly.
“If iBuyers sold their active inventory at current asking, they would lock in $90 million in losses relative to their original purchase prices,” Parcl Labs co-founder Jason Lewris said.
Based on what he knows about October sales right now, it could be the worst month in a decade for inventory turnover ratio in Phoenix, he said. The inventory ratio divides the number of sales into total units.
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