New York, June 17, 2026, 06:01 (EDT)
- Opendoor changed hands at $4.78 before the bell at 6:00 a.m. ET, up 0.6% from where it finished Tuesday.
- The stock gained 3.04% to close at $4.75 Tuesday, with volume at 63.69 million.
- U.S. housing starts dropped 15.4% in May, pulling real estate stocks with heavy rate exposure back into view.
Opendoor Technologies Inc. shares traded up ahead of the open Wednesday, last seen at $4.78 as of 6:00 a.m. ET. That’s after gaining 3% in the last session. Pre-market action, in the quiet hours before the 9:30 a.m. U.S. open, often sees lighter volume and bigger spreads.
Opendoor’s fortunes are linked to mortgage costs, home turnover, and whether it can keep making money buying and selling houses. On Tuesday, Reuters said single-family housing starts in the U.S. slid 1.9% in May, running at an annual pace of 882,000 units. Overall starts were at their lowest in six years.
Investors are looking ahead to the Federal Reserve’s policy call set for later Wednesday. Reuters says the Fed is likely to leave its key rate at 3.50%-3.75%. Mortgage rates have stayed high and continue to drag on housing demand.
Nasdaq is open this Wednesday, with its 2026 calendar pointing to the next market closure on Friday, June 19 for Juneteenth.
Opendoor (OPEN) operates an online residential real estate service. The company said first-quarter revenue came in at $720 million in May, down from $1.15 billion last year. Net loss for the period was $173 million. Adjusted EBITDA, which leaves out interest, tax, depreciation, amortization and other costs, landed at a $31 million loss.
Opendoor Technologies Inc. said it sees second-quarter revenue climbing about 25% from the first quarter and expects adjusted EBITDA close to breakeven, give or take a few million dollars. “The machine is working,” Chief Executive Kaz Nejatian said in the earnings release. Opendoor Technologies Inc.
Offerpad Solutions feels the competitive heat more than Zillow Group. Offerpad, like Opendoor, is in the cash-offer business for homes. Zillow runs a bigger real estate platform, handling buying, selling, loans and rentals.
Cost cutting is a factor as well. Reuters said last week that Opendoor plans to shut down its India business, letting go of all 250 workers there. The company is pushing into more AI and plans to bring more of its operations closer to its U.S. customer base.
Opendoor said it’s set to join the Russell 3000 Index after the U.S. close on June 26. Some funds track the index and may need to adjust their holdings on the move.
Opendoor faces a clear risk: if mortgage rates hold up or home prices slide, it could be tough for the company to keep up its purchase volumes, resale pace and margins. Sal Guatieri, senior economist at BMO Capital Markets, told Reuters there’s “little indication” of a breakout in U.S. homebuilding anytime soon. Opendoor’s risk warnings single out housing downturns, limits on debt financing and trouble reselling homes as the big questions. Reuters
