@JayaBajpai17 Is there not an argument that with Freeport back online and exports ramping, the current surplus looks ok. Not sure the market thinks like that though
@Benjami76085510@ppgosavi@ManiPalaniappa1@mallik70 @shankarh1020 @DatadoorIO@BahamaBen9 Let's wait for Q3 guidance. Will go round in circles till then. I believe they behaved conservatively at the right time (and over-benefitted from HPA), but we need H2 to really see how their pricing holds up
@Benjami76085510@ppgosavi@ManiPalaniappa1@mallik70 @shankarh1020 @DatadoorIO@BahamaBen9 They've been lowering offers since last year with no impact to conversion, but agree the tone has shifted. If I was looking to move home in a weak market I would value a speedy sell at a slightly reduced price
@ppgosavi@ManiPalaniappa1@mallik70 @shankarh1020 @DatadoorIO@BahamaBen9@Opendoor Look at historical seller conversion. Has remained relatively stable at 35%. Obviously not every Opendoor offer will convert but I'd expect that number to rise as sellers increasingly value certainty in this market