Offerpad says it is turning the engine back on in 2026

It is no secret that Offerpad has struggled over the past few years. After recording three consecutive quarters of profitability, the Chandler, Arizona-based firm found itself in choppy waters during the third quarter of 2022, where it ultimately recorded an $80 million net loss. In total, the company would end up losing $148.6 million in 2022, despite the first half of the year being profitable. These challenges would continue over the next few years, which saw Offerpad post net losses of $117.2 million in 2023, $62.2 million in 2024 and $46.38 million in 2025. Despite still recording a net loss of $9.3 million in Q2 2026, Offerpad’s founder and CEO Brain Bair said his firm is finally back. “We are finally there where we are starting to buy homes and really turning the engine back on again,” Bair told HousingWire. Not the same Offerpad Getting here has not been easy, according to Bair, and the Offerpad of today looks quite different compared to the Offerpad of four years ago. The most significant of these changes is that Offerpad now offers agents and consumers four distinct products. “For the first six or seven years we were all focused on iBuying, but we have always wanted to be...