Triple Stock Showdown: Zillow, Redfin, and Opendoor

There can only be one winner... [Derby City Daily logo] [Derby City Daily logo] Triple Stock Showdown: Zillow, Redfin, and Opendoor By Andy Swan The U.S. housing market is on shaky ground. Last week, the average 30-year fixed mortgage rate climbed to 6.81%... Indicating that if Federal Reserve rate hikes continue, we could be on our way back to peak summer 2022 levels – when inflation reached a boiling point. [chart displays U.S. weekly average mortgage rates as of Jul 6, 2023 from FreddieMac]( Source: freddiemac.com As mortgage rates rise, home prices tend to follow. The median sales price for an existing home climbed toward $400,000 in May, offering little relief for prospective homebuyers: [chart displays Median Price of Existing Home Sales from NAR]( Source: nar.realtor And mortgage applications are way down, dropping 31.8% year-over-year in June, according to data from the Mortgage Bankers Association. Many folks simply can’t afford to buy a new home right now. LikeFolio trend data reflects this reality, with consumer mentions of purchasing a new house falling off significantly: [chart displays Buying a Home mentions declining]( This confluence of macroeconomic factors could put many companies relying on the housing market at risk... [like a certain home improvement store we covered last week](. Yet many stocks operating in the sector are on the rise. Home buying sites like Zillow (Z) have seen their stock prices skyrocket in 2023, with Redfin (RDFN) and Opendoor Technologies (OPEN) more than tripling. ✓ Z: +55% YTD ✓ RDFN: +250% YTD ✓ OPEN: +300% YTD Surely waning home affordability – combined with the digital ad spending slowdown – could put a damper on all that momentum. And that might be the case for two out of three. But one of these players has an ace up its sleeve that has us feeling optimistic about its future prospects. [Take a look at how Zillow, Redfin, and Opendoor stack up with consumers to find out which emerges a potential winner in this Derby City Stock Showdown...]( [Click here to continue reading]( Until next time, [Andy Swan's signature] [Andy Swan's signature] Andy Swan Co-Founder, Derby City Insights More Hand-Picked Opportunities from the LikeFolio Team ✓ 3 Stocks That Could Triple This Year: Andy, Landon, and Megan have identified three companies that hit the mark on their “Trifecta” stock-picking strategy, each with triple-digit moneymaking potential. [Get the tickers now](. ✓ Celsius Shares Keep Bubbling to New Highs: LikeFolio has been pounding the table on this energy drink stock for years, and its stock price just... keeps... climbing. [Don’t miss out on the hype](. ✓ The Great $2 AI Moonshot: The same system that pinpointed Nvidia before its meteoric rise – and led LikeFolio followers to 228%-plus gains – has unlocked an even bigger AI opportunity in one tiny sub-$5 stock. [Check this out](. © 2023 TradeSmith, LLC t/a Derby City Insights. All Rights Reserved. 1125 N. Charles Street, Baltimore, MD 21201 To unsubscribe or change your email preferences, please [click here](. [Terms of Use]( | [Privacy Policy](