1 Explosive Real Estate Stock That Just Grew Sales by 384%
The U.S. real estate market is at a crossroads. Over the last 12 months, house prices have increased by 19.8%, according to the Case-Shiller National Home Price Index. However, interest rates are currently on the rise, which can impact the amount of money prospective homebuyers can afford to borrow. That could drag prices down from here.
Investors have been dumping certain high-flying real estate stocks in preparation for this new economic environment, and Offerpad Solutions (NYSE: OPAD) has been one of the hardest hit.
Offerpad stock is currently down about 60% from its all-time high, but the company just delivered a blockbuster Q1 2022 earnings report, which suggests there's still some life in the real estate market -- or at least in Offerpad's innovative business model.
Source Fool.com
