DataDigest: iBuyers slide farther from hyped market disruption
NOVEMBER 8, 2023
Offerpad is an instant buyer, or iBuyer, a company that gives sellers cash offers for their homes and attempts to resell the homes for a profit, sometimes after making renovations. iBuyers have consistently produced steep losses as the companies seek to establish national footprints. Opendoor lost about $1.4 billion last year.