OPENDOOR TECHNOLOGIES INC.

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Opendoor Technologies : Where to Next? Opendoor's Most Popular Zip Codes

01/06/2022 | 09:18am EDT

Last year, Americans across the country moved for a range of reasons, from resizing, to finding the perfect place to retire, or just needing a change of scenery. One thing was certain - the places Americans want to call home continue to evolve.

We looked at the most popular neighborhoods across some of Opendoor's markets - from the hustle and bustle of downtown Miami, to the spacious tranquility of suburbs around Phoenix. Here are the top 10 hottest ZIP codes in Atlanta, Charlotte, Dallas-Fort Worth, Miami, Phoenix, Raleigh-Durham and Sacramento.

Atlanta
With a booming economy, a diverse and vibrant community and plenty of green spaces for everyone to enjoy, it's no wonder Atlanta is one the nation's most livable cities. "Areas that are especially popular are outside of the heart of the city, including neighborhoods in Alpharetta, Canton, Cobb County and Loganville," adds Atlanta General Manager, Franklin Muanankese. "These areas are a great place to put down roots and start a family - they are home to incredible schools, a steady job market, and lots of family-friendly activities."

Charlotte
The Queen City has been in a period of non-stop growth over the last decade. Charlotte offers a strong local economy, a mild climate with surrounding natural beauty (check out the National Whitewater Center) and great quality of life. "We're continuing to see lots of young professionals and families move to North Carolina. Charlotte is seeing more demand than most cities in the Southeast - median prices up 22% year-over-year - and at a higher price point, up to $450K in many suburbs. Surrounding suburbs - like Fort Mill and Rock Hill to the south and Huntersville and Concord to the north - are growing in popularity as residents can get more space and access good schools," notes Senior General Manager, Jon Enberg.

Dallas-Fort Worth
Dallas-Fort Worth offers residents limitless options for finding the exact type of home, neighborhood and lifestyle that suits them best. "Whether you thrive in a bustling urban setting or prefer a quiet residential suburb with a more laid-back vibe, Dallas-Fort Worth has something for everyone," notes Dallas General Manager, Sharon Brown. "We're continuing to see an influx of out-of-state buyers relocating to Texas which is great for our economy and culture. We're also seeing increased interest in areas surrounding the metroplex, including northern pockets like McKinney and Frisco, and areas like Keller, Forney, and Burleson. Whether you're looking for a sizable upgrade or more affordable options, residents in the metroplex can get what they want without straying too far from the city limits of Dallas or Fort Worth."

Miami
Known for its breathtaking beaches and vibrant culture, the international business hub and one of Opendoor's newer 2021 markets, isn't a stranger to flocking homebuyers. "We are seeing there is very little room for housing expansion in the entire Miami metro area, where historically high housing demand meets the geographic boundaries of the Atlantic Ocean to the east and the Everglades to the West, " says Regional Senior General Manager, Jay Cherry. "Areas in western Palm Beach County are benefitting from a northward push, and areas like Palm Beach Gardens are growing the fastest as the metro area moves farther and farther North."

Phoenix
Phoenix offers residents year-long sunshine, endless outdoor activities and a great lifestyle. Michelle Meyers, Senior General Manager highlights, "We're continuing to see a spike of interest in outer suburbs of Phoenix as the fast-paced race to find affordable housing continues into 2022. Casa Grande is the largest city in Pinal County and a community with historic charm and modern amenities, offering a broad range of facilities and activities for residents of all ages. Further north in Surprise, residents and visitors enjoy the small-town feel with big-city amenities. From community celebrations, art galleries and cultural experiences, to regional festivals, our multigenerational city has something for everyone."

Raleigh-Durham
The Triangle entices new residents every day with a warm, family-friendly culture, job opportunities, and an amazing quality of life. Jon Enberg, Senior General Manager, adds, "Apex, Holly Springs and Fuquay Varina are all suburbs of Raleigh Durham that are growing rapidly. We're seeing a lot of construction, new shopping centers, parks and town amenities for young families. Many are moving to the area as first-time homebuyers or young families needing more space and looking for an upgrade. With easy access to Research Triangle Park or central Raleigh, these are also great places for young professionals."

Sacramento
Sacramento is among the fastest growing big cities in the US, with folks attracted to the affordable housing, temperate weather and close proximity to the mountains of Lake Tahoe or central California beaches. General Manager, Jessie Smith highlights, "We're seeing lots of growth outside of the core metro area especially ZIPs in Rocklin, El Dorado Hills, Folsom, Elk Grove and all the way out to Modesto, which was part of our central valley expansion last year. All these areas are growing rapidly as young professionals and families value larger 3+ bedroom homes, multiple living areas, and backyards for entertaining and growing families."

Methodology: Top ZIP codes are identified by analyzing data from the local Multiple Listing Services (MLS) where Opendoor Brokerages operate. ZIPs were ranked by total homes which went into contract within 90 days of listing in 2021.

Disclaimer

Opendoor Technologies Inc. published this content on 06 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 January 2022 14:17:00 UTC.


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Financials (USD)
Sales 2022 18 387 M - -
Net income 2022 -173 M - -
Net Debt 2022 1 641 M - -
P/E ratio 2022 -25,5x
Yield 2022 -
Capitalization 4 280 M 4 280 M -
EV / Sales 2022 0,32x
EV / Sales 2023 0,41x
Nbr of Employees 2 816
Free-Float 83,2%
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Eric Wu Chairman & Chief Executive Officer
Ah Kee Low President
Carrie Ann Wheeler Chief Financial Officer
Ian Wong Chief Technology Officer
Daniel Morillo Chief Investment Officer