Opendoor Technologies, Inc. (NASDAQ:OPEN) is facing a pivotal moment as it navigates a U.S. housing market that the CEO described as “very challenging” and gripped by high mortgage rates and weakened demand.
What To Know: On the company’s Q2 earnings call on Monday, Opendoor management projected cautious optimism, though not for a recovery in the housing market.
Opendoor’s short-term outlook reflects expectations for continued low volumes due to macroeconomic factors. Sequential revenue declined in the third and fourth quarters.
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“Persistently high mortgage rates continue to suppress buyer demand, leading …