Company Overview - Opendoor Technologies' shares dropped 23% this week following data indicating that housing sales have slowed to their lowest pace since 2009 [1] - The company's revenue fell 26% in 2024 to $5.2 billion, and its net loss widened to $392 million, suggesting ongoing financial struggles [6] Industry Trends - Housing inventory has increased, but sales have declined as potential buyers are deterred by high prices, elevated interest rates, and economic uncertainty [2] - Existing-home sales dropped 5.9% in March compared to February, marking a 2.4% year-over-year decline [4] - Mortgage rates are currently around 6.8% for a 30-year mortgage, which, while not historically high, is significantly elevated compared to previous years [5] Economic Sentiment - Consumer confidence regarding the economy is at a 12-year low, impacting buyers' willingness to purchase homes [5] - The uncertainty surrounding tariffs and their potential impact on the economy is causing consumers to delay house purchases, further affecting the housing market [7]