How iBuyers are changing real estate racial disparities and individual homeownership rates in one major city

University of Washington researchers investigated how iBuyers—companies that use automated algorithms to quickly buy and sell homes—have affected the well-documented racial bias against Black home sellers. In Mecklenburg County, North Carolina, they found that on average iBuyers paid more equal prices to Black and white home sellers than individual buyers, largely because iBuyers paid white sellers significantly less on average than an individual buyer. Credit: Blake Wheeler/Unsplash Instant buyers, also known as iBuyers, rapidly buy and sell homes using automated models to set prices. These companies, such as Opendoor and Offerpad, can turn around cash offers in a matter of Read More