Showing that algorithmic pricing of single-family home is not yet close to being perfected (see Zillow leaving the home buying game due to Zestimates being substantially off for the homes they acquired), Opendoor reported the 2nd quarter in a row of high losses. In the 4th quarter of 2022 the home flipping company sold 7,512 homes for $2.9 billion in review, down 25% from a year ago. This led to a loss of $399 million, up from a lost of $191 a million a year prior.
Opendoor loses $399 million in the 4th QTR of 2022!
Recent Comments