Opendoor Technologies Stock Price Jumps Nearly 6%—What Drove OPEN Higher as Housing Data Stayed Weak

New York, March 23, 2026, 5:03 PM EDT

Opendoor Technologies saw its stock climb almost 6% to $5.21 late Monday. Curiously, the company’s investor website continued to display March 3 as the most recent SEC filing. Opendoor Technologies Inc.

Markets whipsawed, snapping higher as Wall Street’s major indexes finished up over 1%. President Donald Trump’s announcement—he’d delayed planned strikes on Iranian power plants—sparked the turn. Brent crude tumbled 10.9%, taking pressure off inflation and interest rate concerns dogging housing stocks. Reuters

This is a problem for Opendoor, which closed out 2025 still holding $925 million worth of homes. Reuters noted Monday that residential construction spending dropped 0.8% in January, with mortgage rates remaining elevated—a tough setup for anyone relying on home sales. SEC

Housing remains sluggish. According to a Reuters survey of housing analysts last week, U.S. home prices are seen inching up only slightly this year, while 30-year mortgage rates likely stick near 6%. “The story’s one of the housing market basically not doing very much,” said James Knightley, chief international economist at ING. Reuters

Opendoor reported back in February that revenue for the fourth quarter hit $736 million, with home purchases climbing 46% compared to the previous quarter. Chief Executive Kaz Nejatian pointed to those results as proof the company is moving toward its 2026 target: “This quarter demonstrates we are executing on that plan,” he said, referencing the aim to break even on an adjusted basis by year-end 2026. SEC

The gains Monday outpaced the rest of the sector. Zillow Group finished 2.7% higher, Rocket Companies picked up 4.5%, and Offerpad tacked on 2.2%. Traders leaned back into housing-linked stocks across the board.

Still, the hazards haven’t gone anywhere. Opendoor posted a $1.096 billion net loss for the quarter, with the bulk—$933 million—coming from an early debt retirement charge. Mortgage rates ticked up again, hitting 6.22% last week and casting a shadow over the spring’s housing market. SEC

The shares have yet to recover from their 52-week peak of $10.87 touched back in mid-September. “Many buyers remain on the fence waiting for lower interest rates and due to economic uncertainty,” National Association of Home Builders Chairman Bill Owens said last week. With that in play, the outlook for firms like Opendoor hasn’t shifted. Reuters

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A dedicated markets reporter, she covers stocks, macroeconomics, and major business developments with a sharp eye for detail and accuracy.

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