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Is Real Estate Back? Here's Why Opendoor and Redfin Are Soaring

TheMotleyFool

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Is Real Estate Back? Here's Why Opendoor and Redfin Are Soaring: https://g.foolcdn.com/editorial/images/731925/house-2023.jpg

The stock market -- especially when it comes to technology stocks -- was having a good day on Wednesday. As of 12:30 p.m. ET, the tech-heavy was higher by about 0.7%.

However, shares of several technology-focused real estate stocks were significantly outperforming. Leading iBuyer Opendoor Technologies (NASDAQ: OPEN) was up by 7% during this time after rising by double digits earlier in the day, while brokerage disruptor Redfin (NASDAQ: RDFN) was 13% higher.

These moves can likely be attributed to two main factors: strong results and investor optimism about real estate.

Source Fool.com

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