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Plunging prices, net losses, Q3 earnings: Inman’s Top 5 stories of the week, Oct. 28 – Nov. 3, 2022

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Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories of the week, according to Inman readers.

1. Redfin’s Glenn Kelman has a theory on why housing prices are plunging

Glenn Kelman of Redfin. Image By: AJ Canaria of MoxiWorks

Investors, including iBuyers, that entered the housing market in 2020 and 2021 are at least partly to blame for the dramatic price correction playing out in 2022, Kelman said in a new interview.

2. Opendoor lost nearly $1B in Q3 in ‘once-in-40-years market transition’

In total, Opendoor suffered a net loss of $928 million between July and September, according to an earnings report Thursday. That’s up from a loss of just $57 million during the third quarter of 2021.

3. 7 underutilized tech tools that’ll make you look like a top producer

smart phone, phone, tech tools, tech

Canva

These underrated apps and tools can make you look seemingly flawless as you juggle the many aspects of your business with ease, Jimmy Burgess says.

4. Coldwell Banker CEO: Not every company will make it through slump



M. Ryan Gorman said the current downturn is an opportunity for his company, while noting that some competitors “may not have a plan for good times let alone a plan for bad times.”

5. Real estate companies are about to tell us just how bad the downturn is

Many of the industry’s big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market.

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