Core Insights - Wayfair's total net revenue for Q3 2025 reached $3.1 billion, reflecting an 8.1% year-over-year increase, but the company reported a net loss of $99 million, which is higher than the $42 million loss in 2024 [1] - The number of active customers decreased by 2.3% year-over-year to 21.2 million, yet repeat customers accounted for 80.1% of total orders, up from 79.9% the previous year [2] - The average order value increased to $317, which is $7 higher than the same quarter in 2024 [3] Industry Context - The home decor category is showing signs of recovery, moving past a trend of double-digit declines, according to Wayfair's CEO, although the housing market remains sluggish [4] - Existing home sales in the U.S. are at multi-decade lows, with the average 30-year mortgage rate above 6%, impacting consumer purchasing decisions [4] - The U.S. housing market showed a 1.5% month-over-month increase in existing-home sales in September 2025, with a median sales price of $415,200, up 2.1% year-over-year [5]