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Zillow sells more homes to Pretium as home-flipping operation unwinds – Bloomberg News

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Pretium recently bought more than 800 properties from Zillow for nearly $300 million and has signed a roughly $150 million agreement to acquire 400 more, according to the report.

The sale comes as Zillow shifts towards becoming a “housing super app”, which will integrate the currently fragmented process of buying or selling a house.

Zillow did not immediately respond to a Reuters request for comment, while Pretium declined to comment.

Shares of Zillow rose 12.6% to $53.89 in early trading, extending gains from the previous session when the company posted fourth-quarter revenue above market expectations on a strong performance in its home segment.

In November, the Wall Street Journal reported that Zillow had reached a deal with Pretium to sell about 2,000 homes from its house-flipping business, which it decided to exit due to unpredictable prices.

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