Shares of Opendoor Technologies Inc (NASDAQ:OPEN) are surging higher on Wednesday following the release of a robust New Residential Sales report from the U.S. Census Bureau and the Department of Housing and Urban Development. Here’s what investors need to know.
What To Know: The report revealed a significant uptick in new single-family home sales. Sales in August were at a seasonally adjusted annual rate of 800,000, a 20.5% increase from the previous month. This positive momentum was further underscored by a 15.4% rise compared to August of last year.
