In Death of the Ibuyer?, I recounted how the internet direct buyers had been punished when selling in the last half of 2022. In 2023 the bad times continued, as the institutional (Wall Street) buyers and the local iBuyers accounted for only 2,014 total home purchases in Maricopa County. That was down about 87% from their acquisitions in 2021. The reason is billions of dollars in losses for both the iBuyers and institutional buyers, so buys last year were a fraction of what they were in late 2021 and early 2022. It makes me wonder why the iBuyers still advertise on TV so heavily. I guess they bought their ads in bulk and in advance.
