Deals
They’ll Help Take Your Home Off Your Hands—So You Can Buy One of Theirs
- Collaboration with tech firm Opendoor tested in Las Vegas
- Builder provides $100 million in debt for program’s expansion
A house under construction at the Lennar Tree Tops community development in Lancaster, South Carolina, on Jan. 8.
Photographer: Travis Dove/BloombergThis article is for subscribers only.
Lennar Corp. builds homes with 2-by-4s and nail guns. Opendoor uses computer algorithms to buy and sell them. For the past year, the companies have been testing a way to make it easier for Lennar’s customers to offload their houses and trade up to new ones.
Now Lennar is part of a group that is furnishing Opendoor with $135 million in funding as the San Francisco-based startup seeks to expand this year from six U.S. markets to more than a dozen.