Opendoor Reports Third Quarter 2026 Financial Results

Kaz Nejatian, CEO of Opendoor

“It’s been one year since we embarked on Opendoor 2.0 and I’m more confident in this company today than I was a year ago. We’re building a stronger, more capable company for the long term.”

Kaz Nejatian, CEO of Opendoor

“A year ago, conventional wisdom was that Opendoor couldn’t grow without overpaying, couldn’t operate more efficiently and couldn’t use less capital per acquisition. Our progress tells a different story.”

Kaz Nejatian, CEO of Opendoor

“We’re earning more sellers’ business. Broader product choices, less friction and better customer education give homeowners more reasons to choose Opendoor. We’re seeing dramatically higher true seller conversion at comparable spreads than we have in years. We more than quadrupled homes purchased year-over-year, and Cash Now, More Later, which requires less capital upfront per home, accounted for more acquisitions than all products combined in Q3 2025.”

Kaz Nejatian, CEO of Opendoor

“We are handling that growth more efficiently. We’re automating more of the work, bringing more of the transaction together and making improvements to shared systems that carry across the business. On a trailing-twelve-month basis, marketing expense per acquired home fell 57%, and operations expense per acquired home fell 36%. We’re changing how the business operates.”

Kaz Nejatian, CEO of Opendoor

“We’re bringing that same focus to resale, giving buyers more reasons to choose an Opendoor home through easier shopping, greater home appeal and more affordable financing. We’re seeing early traction, with mortgage originations growing more than 400% quarter-over-quarter.”

Kaz Nejatian, CEO of Opendoor

“We’ve shown what focused execution can do for our seller funnel and our efficiency. We’re betting on ourselves to deliver the same change in resale.”