The Real Estate Market Has Officially Closed on Opendoor
The COVID-19 pandemic provided a generational catalyst for the U.S. housing market. Median home prices soared over 40% in less than two years as record-low interest rates drove the cost of financing a home to new lows and work-from-anywhere policies allowed more young adults to move away from downtown urban areas. Now mortgage rates are soaring, causing housing prices to stagnate and even decline in many regions around the country.