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Redfin Corporation - RDFN STOCK NEWS

Welcome to our dedicated page for Redfin Corporation news (Ticker: RDFN), a resource for investors and traders seeking the latest updates and insights on Redfin Corporation stock.

Redfin Corporation (RDFN) is a pioneering residential real estate brokerage firm that has revolutionized the industry by integrating advanced technology with local real estate services. Founded with a vision to put customers first, Redfin started by inventing map-based search, enabling users to find homes more efficiently. Unlike traditional brokers, Redfin decided to forego running ads and instead partnered with agents committed to being customer advocates, not mere salespeople.

Redfin's innovative approach covers every aspect of the home buying and selling process. From home tours and listing debuts to escrow and closing, Redfin's technology-driven model makes each step faster, easier, and worry-free. Their commitment to excellence is evident in their unique bonus system, where agents are rewarded based on customer reviews.

The company operates through five segments, with three reportable ones: Real Estate Services, Rentals, and Mortgage. Real Estate Services generate the bulk of the company’s revenue. Alongside their core services, Redfin also offers mortgage loans, title, and settlement services via their website and mobile application, making it a one-stop-shop for all real estate needs.

Recent achievements include expanding their market reach and continuous technological enhancements to provide better service and save customers thousands in fees. Redfin consistently invests in the homes it sells, focusing on improving performance and adding value.

  • Advanced map-based search technology.
  • Customer-first approach with bonus incentives for agents.
  • Comprehensive services from listings to mortgages.
  • Revenue mainly from Real Estate Services.

Redfin's mission is to redefine how real estate is bought and sold, emphasizing speed, cost-effectiveness, and customer satisfaction. Whether you’re buying, selling, or renting, Redfin aims to make the experience seamless and beneficial.

News

Redfin Reports 2023 on Pace For Fewest Home Sales Since 2008 As Mortgage Rates Hit 8%

Rhea-AI Summary
Redfin economists predict that 2023 will have the fewest home sales since 2008 due to high mortgage rates and low inventory.
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Redfin Reports That Homebuyers Must Earn $115,000 to Afford the Typical U.S. Home—About $40,000 More Than the Typical American Household Earns

Rhea-AI Summary
Home prices and mortgage rates continue to rise, making it increasingly difficult for homebuyers to afford a home.
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-2.9%
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Redfin Reports Listings Tick Up, But Buyers Back Off

Rhea-AI Summary
New listings of U.S. homes for sale have increased slightly, but buyers are retreating due to high mortgage rates.
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-5.43%
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Redfin Reports Asking Rents Flattened in September Amid Growing Apartment Supply

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Median U.S. asking rent remains unchanged for sixth straight month, supply of rentals increases
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1.61%
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Redfin Reports New Listings Hold Up As Mortgage Rates Soar Toward 8%

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Mortgage rates reach highest level in over 20 years, impacting homebuyers' purchasing power. New listings show a slight increase, offering hope for the housing market.
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1.61%
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Redfin Survey: 59% of Recent Homebuyers Say Purchasing a House Is More Stressful Than Dating

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Nearly two-thirds of recent U.S. homebuyers think purchasing a house is more stressful than dating, according to a report from Redfin. High mortgage rates and low inventory are contributing to the anxiety. Divorce and finding a new job were the only events considered more stressful than buying a home. Baby Boomers are most likely to think dating is more stressful, while Millennials and Gen Xers find homebuying more stressful. White homebuyers find buying a home more stressful than getting into college, while Black buyers say the opposite. Mortgage rates at the highest level in two decades are causing financial barriers for Black Americans. No specific numbers or percentages were mentioned in the PR.
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2.54%
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Redfin Survey: Roughly One-Third of Black, Hispanic Respondents Faced Discrimination During Recent House Hunt

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32% of Black Americans and 36% of Hispanic Americans recently moved believe they were discriminated against based on their ethnicity or race during their home search, according to a survey from Redfin. An additional 22% of Black Americans and 22% of Hispanic Americans believe they may have been discriminated against. Asian respondents were less likely to report discrimination, with 20% believing they were discriminated against and an additional 27% believing they may have faced discrimination. Discrimination in the housing market is still common despite laws against it.
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0.29%
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Redfin Reports More Home Sellers Drop Their Asking Price As Mortgage Rates Hit Two-Decade High

Rhea-AI Summary
Record-high monthly mortgage payments are motivating sellers to drop asking prices to attract buyers, who are unwilling to pay a dollar more than necessary for their new home. Roughly one in 15 (6.5%) U.S. homes for sale had a price drop during the four weeks ending September 24, on average, up from 5.8% a month earlier–a sharp monthly increase compared to the same period in years past. The median home-sale price is up 3% year over year and the typical homebuyer’s monthly payment is at a record high as mortgage rates stay stubbornly elevated, with daily average rates hitting a two-decade high on September 27.
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0.29%
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A Record Share of Homebuyers Are Relocating, Many to Places Endangered By Climate Change

Rhea-AI Summary
A record 26% of homebuyers are looking to move to a different part of the country, with Sacramento and Las Vegas being the most popular destinations. Relocations are holding up better than in-metro moves due to affordability and remote work. The median home-sale price in Sacramento is $575,000, compared to $1,480,000 in San Francisco. Homebuyers are leaving expensive cities like San Francisco, New York, and Los Angeles. The most common destination for those leaving Los Angeles is Las Vegas.
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-1.01%
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Redfin Reports Pending Home Sales Drop 13% Year Over Year As Mortgage Rates Stay Stubbornly High

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Monthly housing payments reach all-time high, new listings show slight increase
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-1.96%
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FAQ

What is the current stock price of Redfin Corporation (RDFN)?

The current stock price of Redfin Corporation (RDFN) is $8 as of November 18, 2024.

What is the market cap of Redfin Corporation (RDFN)?

The market cap of Redfin Corporation (RDFN) is approximately 1.0B.

What does Redfin Corporation do?

Redfin Corporation is a residential real estate broker that uses technology to offer faster, cost-effective services for buying, selling, and renting homes.

How does Redfin save customers money?

Redfin saves customers money by integrating technology to streamline the home buying and selling process, reducing fees and offering value-added services.

What services does Redfin offer?

Redfin offers home buying, selling, mortgage loans, title, and settlement services through their website and mobile application.

How does Redfin ensure customer satisfaction?

Redfin pairs their agents with technology and rewards them based on customer reviews, ensuring a high level of customer satisfaction.

What are Redfin's main revenue segments?

Redfin's primary revenue segments are Real Estate Services, Rentals, and Mortgage services.

How did Redfin start?

Redfin began by inventing map-based search and focusing on a technology-driven approach to make real estate transactions easier for customers.

What is unique about Redfin's business model?

Redfin’s model combines technology with local real estate services and aligns agent incentives with customer satisfaction.

Does Redfin offer mortgage services?

Yes, Redfin offers mortgage loans, title, and settlement services in addition to their real estate brokerage.

What is Redfin's mission?

Redfin's mission is to redefine real estate by making it faster, cost-effective, and customer-centric.

How does Redfin use technology in real estate?

Redfin uses technology for map-based search, home tours, listing debuts, and the entire home buying and selling process to enhance efficiency and customer experience.

Stock RDFN logo
Redfin Corporation

Nasdaq:RDFN

RDFN Rankings

#2545 Ranked by Market Cap
N/A Ranked by Dividends

RDFN Stock Data

1.01B
123.98M
4.25%
55.29%
17.51%
Real Estate Services
Real Estate Agents & Managers (for Others)
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United States of America
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