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Startups that are catering to homebuyers are struggling as interest rates and inflation have climbed and inventory shortages continue in many markets. 

The latest casualty in the space is Reali, which announced that it has begun a shutdown and will be laying off most of its workforce on September 9.

In a press release, co-founder and chairman Amit Haller said “the challenging real estate and financial market conditions and unfavorable capital-raising environment” led to the decision to wind down operations.