Finding opportunity in a cooling market
In this time of macro uncertainty, Roofstock has been forced to reevaluate its strategic priorities. But market conditions are also handing the company new kinds of business.
Indeed, while rising interest rates and a cooling economy are impacting all high-growth startups, these macroeconomic conditions are especially top of mind for companies like Roofstock, which serve the real estate sector. According to the National Association of Realtors, sales of existing homes were down 14% in June, compared to a year earlier, and sales of new homes were down 17% in the same period.
But Beasley says it’s not all doom and gloom. Managing a business in an uneven economy has been challenging, but it has forced Roofstock to seek, and find, unexpected opportunities that will make the company more resilient in the long term.