Redfin Corporation - RDFN STOCK NEWS

For the first time since 2010, homes with low natural disaster risk are experiencing faster value appreciation than high-risk properties, according to Redfin. The total value of U.S. homes facing low risk of extreme heat increased 7% year-over-year to $17.7 trillion, while high-risk properties rose 6.3% to $29.7 trillion. Similar trends were observed for flood and fire risks. Low-risk homes across all categories have been outpacing high-risk properties since February 2024, suggesting that climate change is increasingly influencing homebuying decisions. Despite this shift, both high and low-risk properties have seen substantial value increases since the pandemic, with high-risk homes up over 60%.

U.S. home prices increased 0.5% month-over-month in October 2024, maintaining consistent growth patterns. The year-over-year price increase was 5.9%, marking the lowest annual rise since December. According to the Redfin Home Price Index, monthly gains have remained steady between 0.2% and 0.7% since November 2023. Among major metros, San Antonio saw the largest price decline (-2.9%), while San Francisco led gains (2.3%). High mortgage rates have price growth, but housing inventory shortages continue to drive steady price increases through competitive buying.

Redfin (NASDAQ: RDFN) has announced that CFO Chris Nielsen will deliver a presentation at the 4th Annual Needham Consumer Tech / Ecommerce Virtual Conference. The presentation is scheduled for Monday, November 25, at 11:45 a.m. ET. Both the live webcast and replay will be accessible through Redfin's investor relations website at http://investors.redfin.com.

Redfin's recent survey reveals that 74% of U.S. residents earning under $50,000 annually struggle with housing payments. Among these individuals, 24% have skipped meals, 43% reduced restaurant dining, 36% cut back on vacations, and 25% borrowed money from family or friends to afford housing costs.

The survey highlights that housing costs have risen dramatically over the past five years, with median U.S. housing costs increasing more than 40% since pre-pandemic levels. Notably, the share of apartments under $1,000 monthly has hit record lows. The study also found that Gen Z faces particular challenges, with 71% struggling with housing payments - the highest among all generations. For millennials, 23% who struggle have skipped meals, while 21% have delayed medical treatments.

Existing home sales rose 1.6% month over month in October to a seasonally adjusted annual rate of 4,179,346, marking the biggest gain since January 2022. Sales climbed 1.7% year over year—the first annual increase since November 2021. The median home sale price increased 5.2% year over year to $435,313. While sales jumped due to temporarily lower mortgage rates in September, pending sales fell 1.1% month over month in October as rates increased again. The typical home took 41 days to sell, the slowest October pace in five years, with 27.7% of homes selling above asking price.

Redfin reports a significant rebound in homebuying demand following the presidential election. The company's Homebuyer Demand Index jumped over 15% to its highest level in nearly 18 months, while mortgage-rate locks for home purchases more than doubled from the previous month. Pending home sales rose 4.7% year over year, with the median sale price reaching $387,114, up 6.2%. Despite mortgage rates near 7% and high home prices, buyers are returning to the market, with 22% of U.S. residents more likely to consider moving post-election.

Redfin (NASDAQ: RDFN) has announced that CFO Chris Nielsen will deliver a presentation at the Stephens Annual Investment Conference. The presentation is scheduled for Tuesday, November 19, at 2:00 p.m. CT. Interested parties can access both the live webcast and a replay of the presentation through Redfin's investor relations website at http://investors.redfin.com.

Redfin (NASDAQ: RDFN) has announced that CFO Chris Nielsen will deliver a presentation at the RBC Capital Markets Technology, Internet, Media and Telecommunications Conference. The presentation is scheduled for Wednesday, November 20, at 9:20 a.m. ET. Interested parties can access both the live webcast and replay through Redfin's investor relations website at http://investors.redfin.com.

Redfin's post-election survey reveals that 22% of U.S. residents are more likely to move following the 2024 election, while 21% are less likely. Among those considering relocation, 36% are thinking about moving to another country, and 26% to a different state. Democrats (28%) showed higher moving intentions compared to Republicans (16%). The survey also found that young people (34% of 18-34 year olds), renters (29%), and those earning under $50,000 (27%) expressed stronger intentions to relocate. Of those more likely to move, 17% are considering buying a new home, while 12% are thinking about selling their current residence.