NEW YORK, July 23, 2026, 06:08 EDT
- As of July 18, preliminary weekly acquisition contracts rose 12%.
- Shares fell 2.2% on Wednesday, yet outperformed housing-linked stocks over five sessions.
- Mortgage rates increased to 6.69% prior to next week’s Federal Reserve meeting.
Opendoor said weekly acquisition contracts rose 12%, according to its most recent operating update. The figures cover the week to July 18.
The rise is notable, since acquisition agreements generate future home inventory. Greater volume could lift sales, but also adds to capital exposure.
Preliminary estimate: Management’s outlook for Q2 implies revenue close to $900 million. With a 6% contribution margin, this results in approximately $54 million.
This number marks a 69% increase from the first-quarter contribution profit. The $22 million gain makes up 71% of the quarter’s adjusted EBITDA loss. Both numbers are non-GAAP measures and are not directly comparable.
Management forecasts revenue to increase by about 25% over the first quarter. The company anticipates contribution margin will be around the middle of its 5%-7% target band. Adjusted EBITDA is projected to come in near breakeven.
The stock closed Wednesday at $4.38, falling 2.23%. A total of 95.74 million shares were traded, or 175% of the 65-day average. U.S. markets remained in premarket hours at the time of publication.
| Housing-linked share | Wednesday close | Daily move | Five-day move | Short float |
|---|---|---|---|---|
| Opendoor Technologies Inc. NASDAQ:OPEN | $4.38 | dropped 2.23% | down 4.16% | 22.66% |
| Offerpad Solutions Inc. NYSE:OPAD | $4.89 | slipped 3.93% | fell 5.78% | 13.75% |
| Zillow Group Inc. Class A NASDAQ:ZG | $31.35 | fell 1.42% | down 7.77% | 8.10% |
| Rocket Companies Inc. NYSE:RKT | $13.44 | off 1.54% | slipped 9.80% | 10.83% |
Short interest figures reflect data as of June 30.
Opendoor posted the slightest drop across five sessions compared to other housing-linked stocks in the group. The firm continued to hold the largest short float, leaving its shares exposed to notable volatility.
Contract volumes rose while borrowing costs worsened. The average 30-year fixed mortgage rate increased to 6.69%, reaching its highest point in 11 months.
Mike Fratantoni, the Mortgage Bankers Association’s chief economist, stated rates were “likely to remain higher as a result.” He highlighted inflationary pressure stemming from increased oil prices. Reuters
During the first quarter, 10% of homes remained on the market for over 120 days, down from 33% in the prior quarter. Chief Executive Kaz Nejatian said in May: “The machine is working.” SEC
The dashboard figures are preliminary and reflect contracts that may yet be withdrawn. Deloitte has neither audited nor confirmed the data.
The Federal Reserve’s next meeting is set for July 28-29. Opendoor is scheduled to announce its second-quarter results on August 4 at 5 p.m. EDT.
Risks: Higher mortgage rates may limit resale transactions or negatively impact home prices. A faster pace of acquisitions could increase inventory levels if demand fails to match supply.
The earnings threshold has been established. Contribution profit must closely match the $54 million projection, and adjusted EBITDA is required to hit the breakeven objective set by management. An increase in contracts alone will not address the problem.
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