The company earned $600.5 million in revenue during the third quarter, but also lost $90.2 million — up from a loss of just $18.9 million in the third quarter of 2021 — amid a worsening housing market. Continue reading
Real estate companies including Compass, Offerpad and Opendoor saw share prices hit all-time lows Monday. The rout suggests investors may have deep concerns about the real estate industry. Continue reading
In total, Opendoor suffered a net loss of $928 million between July and September, according to an earnings report Thursday. That’s up from a loss of just $57 million during the third quarter of 2021. Continue reading
The iBuyer brought in higher-than-expected revenues but racked up a much higher net loss than the previous year, according to a Q3 earnings call on Wednesday. Continue reading
The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry. Continue reading
In an earnings call Tuesday, the real estate giant pointed to its Apartments.com business as a particularly successful standout in an otherwise challenging market this summer. Continue reading
The real estate industry is in the midst of a massive financial reckoning. Amidst this turmoil, the industry is bifurcating into predators and prey — companies that have the resources to expand through acquisition and those burning cash that are vulner… Continue reading
During Inman Connect on Tuesday, Gary Keller discussed an array of topics with Inman founder Brad Inman. Keller said companies have to focus on “dollars in, expenses out” as they reach for profitability. Continue reading
Shares in Opendoor, Offerpad and Redfin all hit all-time low prices Friday. The milestones come after months of declines for companies across the real estate space. Continue reading
A year after announcing it would abandon its iBuyer program, Zillow has offloaded the last of the homes it bought with Zillow Offers, marking the end of a major chapter in real estate history. Continue reading