Welcome to our dedicated page for Redfin news (Ticker: RDFN), a resource for investors and traders seeking the latest updates and insights on Redfin stock.
Redfin Corporation (RDFN) combines technology and local expertise to modernize residential real estate services. This news hub provides investors and industry observers with essential updates about the company’s evolving business strategy, financial performance, and market position.
Track key developments through official press releases, SEC filings, and verified news coverage. Users will find timely updates on earnings reports, strategic partnerships, technology innovations, and operational milestones that shape Redfin’s role in the proptech sector.
This centralized resource offers curated information about Redfin’s core services including brokerage operations, mortgage solutions, and title services. Content is organized to help stakeholders monitor regulatory developments, leadership changes, and competitive positioning within real estate markets nationwide.
Bookmark this page for efficient access to Redfin’s latest corporate announcements. Check back regularly to stay informed about critical updates affecting one of real estate’s most technology-forward brokerage platforms.
Redfin reports strong homebuying demand despite rising mortgage rates and election uncertainty. Pending U.S. home sales increased 3.5% year over year during the four weeks ending October 20, marking the biggest increase in three years. The Redfin Homebuyer Demand Index reached its highest level since May, up 3% year over year. Mortgage rates have risen to 6.44%, up from 6.08% in late September, with daily averages hitting 6.92%. The median U.S. monthly housing payment reached $2,587, near its highest level since July. While mortgage-purchase applications fell 5%, new listings rose 2.2% annually, and pending sales increased in 35 of the 50 most populous U.S. metros.
Redfin's recent survey reveals significant patterns in neighbor disputes over politics and racial issues. 18.7% of respondents reported political disagreements with neighbors, with men (27.1%) being twice as likely as women (13.4%) to engage in such disputes. The survey, conducted by Ipsos in September 2024, showed that Trump voters (23.1%) were more likely to have political disagreements than Harris voters (19.5%).
Generation Z (26.4%) and Millennials (23.5%) reported higher rates of political disputes compared to older generations. Additionally, 11.9% of respondents experienced disagreements over racial issues, with similar demographic patterns. The study also found that 30.4% of respondents regularly engage in political conversations with neighbors, with homeowners and younger generations showing higher engagement rates.
Redfin reports that U.S. home prices grew 0.5% in September on a seasonally adjusted basis, the fastest pace since April. This marks the third consecutive month of increasing growth rates. Year-over-year, prices rose 6%, the smallest annual increase since December.
The Redfin Home Price Index (RHPI) shows that despite improved mortgage affordability in September, with rates dropping as low as 6.08%, home prices continue to rise due to demand outweighing supply. There are approximately 20% fewer homes on the market compared to five years ago, primarily because many homeowners secured low mortgage rates during the pandemic.
Among the 50 most populous U.S. metro areas, 13 recorded a seasonally adjusted drop in home prices in September. The largest declines were in San Antonio, TX (-1%), Fort Lauderdale, FL (-0.9%), and Fort Worth, TX (-0.5%). The highest gains were in Nassau County, NY (1.7%), Philadelphia (1.6%), and Virginia Beach, VA (1.4%).
Redfin reports a 2.5% month-over-month increase in pending home sales for September 2024, the largest since January 2023. This jump is attributed to lower mortgage rates, which fell to a two-year low of 6.08% in late September, enhancing buyers' purchasing power. However, existing home sales dropped to a record low of 4,023,067 (seasonally adjusted annual rate), excluding the pandemic's start.
The median home sale price rose 3.9% year-over-year to $428,212, driven by a persistent housing shortage. New listings increased slightly but remained 17.7% below pre-pandemic levels. The average 30-year fixed mortgage rate was 6.18%, down 1.02 percentage points from the previous year.
Florida's housing market showed significant cooling, with West Palm Beach experiencing a 23% year-over-year decline in closed home sales, the largest among major U.S. metros. Recent hurricanes may further impact October sales in the region.
Redfin reports that pending U.S. home sales rose 3.2% year over year during the four weeks ending October 13, marking the biggest increase in three years. This rise is attributed to mortgage rates falling to a two-year low in late September. However, recent weeks have seen mortgage rates tick up, with the weekly average 30-year rate at 6.32%.
Home prices are also increasing, with the median sale price up 4.7% year-over-year, the largest uptick since March. This has pushed the typical homebuyer's monthly payment up nearly $100 from a month ago. Despite rising rates, demand remains strong in many areas, with pending sales up in 34 of the 50 most populous U.S. metros. However, some indicators suggest a potential slowdown, with home tours and mortgage-purchase applications flattening out.
Redfin has expanded its free rental listing tool nationwide, allowing homeowners, investors, property managers, and agents across the U.S. to list rental properties at no cost. The tool enables users to connect with potential renters searching on Redfin's family of sites, including Rent.com and Apartment Guide. Property managers can now manage the entire process, from listing to application and renter screening, in one place.
The expansion includes a partnership with TurboTenant, providing free access to an application and tenant screening platform. Redfin's rental dashboard allows property managers to monitor views, track inquiries, and manage listings efficiently. This nationwide rollout follows Redfin's initial launch in 13 markets in May 2024 and marks a significant step in building its rental marketplace.
A Redfin survey reveals that 31.6% of U.S. renters consider housing affordability a top-three issue in the upcoming presidential election, compared to 17.1% of homeowners. The survey, conducted by Ipsos in September 2024, polled 1,802 people aged 18-65.
Key findings include:
- 25.1% of Kamala Harris voters rank housing affordability as a top issue, versus 20.4% of Donald Trump voters
- 52.1% of homeowners feel better off financially than four years ago, compared to 44.2% of renters
- 23% of prospective first-time buyers are waiting until after the election to purchase a home
- 26.1% of potential first-time homebuyers are waiting to see if Harris' housing plan is implemented
- 41.6% of homeowners believe Trump would be best for keeping home values high, while 35.3% favor Harris
Redfin's recent survey reveals that abortion access is influencing moving decisions, especially among younger generations. 7% of Gen Zers and 5% of millennials planning to move soon cite living in a place where abortion is legal as a reason. Across all generations, at least 50% of respondents prefer to live where abortion is legal, with millennials leading at 59%.
The survey also found that 64% of millennials and 66% of Gen Zers want to live in areas where IVF and other fertility treatments are easily accessible. Political affiliations show varying preferences, with 75% of Kamala Harris voters wanting to live where abortion is legal, compared to 35% of Donald Trump voters.
These findings highlight how the Supreme Court's overturning of Roe v. Wade in 2022 has made state-level abortion laws a significant factor in relocation decisions for many Americans.
Redfin reports that the typical U.S. asking rent increased by 0.6% year over year in September to $1,634, with East Coast and Midwest metros seeing the largest increases. Washington, D.C. recorded the highest rent increase of 12% to $2,088, while Jacksonville, FL saw the biggest decrease of 11.3% to $1,485. The median rent has remained relatively stable over the past two years, ranging between $1,599 and $1,663.
Sun Belt states dominated the metros with the largest rent declines. Asking rents fell across all bedroom counts, with 3+ bedroom apartments experiencing the largest decrease of 1.9% to $1,995. Redfin Senior Economist Sheharyar Bokhari noted that rent stability varies by location, with less construction activity in the East Coast and Midwest leading to rising rents, while Sun Belt cities with post-pandemic construction booms are seeing faster rent decreases.
Redfin reports a significant uptick in U.S. pending home sales, rising 2% year-over-year in the four weeks ending October 6, marking the largest increase in three years. This surge in demand is attributed to falling mortgage rates, which have reduced the typical homebuyer's monthly payment to $2,526, down 5.8% from last year. However, recent mortgage rate increases following a strong jobs report may impact future demand.
The report highlights regional variations, with coastal Florida experiencing declining sales, partly due to Hurricane Helene and rising insurance costs. New listings have increased by 5.7% year-over-year, continuing a year-long trend. The Redfin Homebuyer Demand Index is near its highest level since May, indicating strong buyer interest despite potential challenges ahead.
