Opendoor Finalized Q3 Estimates and Q4 Insights

Written by Tyler Okland

Opendoor’s Q3 earnings call is less than two weeks away.

On November 3rd, management will discuss their strategies to navigate one of the fastest housing declines of the past century.  

At this point it seems everyone and their mother is aware the iBuyers are struggling mightily in the face of these price declines. That Opendoor, Offerpad and Redfin are underwater on homes purchased in the summer, and must offload these homes to return to normalized margins.

The big question for investors is how long will the pain persist? 

How many “underwater” homes remain on Opendoor’s balance sheet, and how fast can they sell these homes to get back to neutral? 

Most importantly, assuming 2023 is a down to flat market – can the company even achieve normal margins without HPA? 

Today, we present Datadoor’s finalized Q3 estimates for Opendoor, alongside Q4 insights targeting these questions. 

Let’s get to it. 

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