The iBuying giant saw revenue dip 39 percent year over year at the beginning of 2023, according to a Q1 earnings call Thursday. It also sold and bought fewer homes compared to the beginning of 2022. Continue reading
Following a dramatic Q4 in which the iBuyer posted losses of $121.1 million, Offerpad improved its net loss by 51 percent to $59.4 million in Q1 as it struggles to adapt to a shifting market. Continue reading
Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he’ll be watching as publicly traded real estate companies post Q1 earnings this week and next. Continue reading
In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, primarily focused on operations roles. Continue reading
IBuyers like Opendoor and Offerpad once appeared poised to be an essential player in the nation’s biggest housing markets. Now, real estate agents say their role has diminished dramatically. Continue reading
Real estate businesses burned through billions in cash last year. Intel breaks down the biggest companies with the least wiggle room as economic uncertainty stretches into 2023. Continue reading
Inman’s first-ever Intel leadership survey revealed that leaders think the market will be worse in 2023 compared to 2022 — but they also expect to thrive regardless of the economic headwinds. Continue reading
Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves. Continue reading
With billions saved — and lost — Opendoor is living by the creed “go big or go home.” Yet even after a dreary Q4, the iBuyer persists, which may be the biggest takeaway, Mike DelPrete writes exclusively for Intel. Continue reading
The dominant iBuyer lost nearly $400 million in the fourth quarter, according to an earnings call Thursday afternoon. That’s better than the previous quarter, but a big jump from the same period in 2021. Continue reading