In an earnings report Thursday afternoon, Opendoor CEO Carrie Wheeler struck an optimistic tone and pointed to the “potential for a more normalized macro backdrop” in 2024. Continue reading
Wu founded Opendoor in 2014 and served as the company’s chief executive officer until last year. He said in a statement that he’s leaving to focus on building new things. Continue reading
The iBuyer saw revenue fall 71 percent year over year in the third quarter of 2023. The company also lost $106 million — a reversal from Q2’s net profit. Continue reading
Joe Rath is Redfin’s senior director of brokerage operations and head of industry relations. He shared thoughts on Clear Cooperation ahead of his appearance at Inman Connect Las Vegas. Continue reading
The iBuying giant sold fewer homes and brought in less cash in Q2 2023 than it did during the same time in 2022, but it still managed to end up in the black to the tune of $23 million. Continue reading
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they’re watching with Intel. Continue reading
The chief executive of the largest iBuyer spoke to Inman about Opendoor’s first-quarter earnings on Thursday — and expectations that the company is turning a corner after a rough 2022. Continue reading
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
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