4 Reasons to Buy Opendoor Stock
Real estate stocks have gotten crushed over the last couple of years as soaring mortgage rates have squeezed demand. At the same time, homeowners who capitalized on rock-bottom mortgage rates during the earlier days of the pandemic are reluctant to sell and give up their low mortgage rates.
As a result, existing home sales slipped to their lowest level last year, falling 19% to 4.09 million. That's even lower than they were during the trough in the housing market crash during the global financial crisis of 2007-2009.
However, current market circumstances should favor real estate stocks like digital platform Opendoor Technologies (NASDAQ: OPEN).
Source Fool.com
