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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 to Present at Goldman Sachs Communacopia + Technology Conference

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Redfin CFO to present at Goldman Sachs Communacopia + Technology Conference
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Redfin Reports Miami Home Prices Are Up 17% From a Year Ago

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Home prices in Miami rise 17% YoY, biggest increase since October 2022; Nationwide, home prices up 5% YoY to $380,000, biggest increase in 10 months; Total number of US homes for sale down 19%, new listings down 10%; Pending sales decline 14% YoY; Mortgage-purchase applications decline 27% YoY; Median asking price of newly listed homes up 3.7% YoY to $383,706; Active listings drop 18.7% YoY; Months of supply at 2.9 months, highest level since April; 40.8% of homes under contract have accepted offer within first two weeks; 34.1% of homes sold above final list price.
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Redfin to Present at Citi's 2023 Global Technology Conference

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Redfin CFO to present at Citi's Global Technology Conference
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1.71%
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Real Estate Investors Pull Back, Buying 45% Fewer Homes Than A Year Ago

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Investor market share drops to 16% from all-time high of 20% in Q1 2022. Investor home purchases fell 45% YoY in Q2, biggest decline since 2008. Limited inventory and cooling housing market deter investors. Investors bought $36.4 billion worth of homes in Q2, down 42% YoY. Investors bought 15.6% of homes sold in Q2, down from 19.7% YoY. Investors' share of new listings is falling. Investors purchased 31% of multi-family properties in Q2. Small and low-priced homes attract investors. Single-family homes represent 68% of investor purchases.
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1.19%
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Redfin Reports Pending Home Sales Ticked Up in July But Still Hovered Near Recent Low

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Pending sales stabilize, but homebuyer demand remains low. Pending sales rose 0.7% in July, still 5.4% above the low point in March. Year over year, pending sales fell 15.7%, the smallest decline since last summer. The average 30-year-fixed mortgage rate was 6.84% in July, up from 5.41% a year earlier. Median home sale price rose 1.7% to $421,872 in July. Total number of homes for sale fell 3.9% from the previous month and dropped 19.5% from a year earlier. New listings were little changed from the previous month, but down 22.2% from a year earlier. Metro-level highlights show significant declines in pending sales, closed sales, and median sale prices in several metros.
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Redfin Report: A Homebuyer on a $3,000 Budget Has Lost $71,000 in Purchasing Power Since Last Year

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High mortgage rates are cutting into buyers' budgets, reducing purchasing power. Home-purchase applications dropped to their lowest level in nearly 30 years. The combination of high mortgage payments and low housing inventory is pushing buyers out of the market. However, some areas like Nashville, TN, have more demand than supply, leading to competitive pricing. Mortgage rates are close to their highest level in more than two decades.
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Redfin Reports Myrtle Beach, SC Becomes Popular Homebuyer Migration Destination for First Time

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Record-high share of homebuyers looking to relocate; 25.8% compared to 23.7% a year ago.
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3.56%
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New Builds Make Up One-Third of Houses on the Market, With High Rates Locking Up Existing Inventory

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Redfin reports that newly built single-family homes accounted for 31.4% of the market in the second quarter, the highest share ever recorded. This increase in new construction is helping to offset the shortage of existing homes for sale.
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The Typical Teacher Can Afford Just 12% of Homes for Sale Near Their School, Down From 30% in 2019

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Redfin (RDFN): New report reveals teachers can afford just 12% of homes for sale within commuting distance of schools, down from 17% last summer and 30% in 2019, due to stagnant wages and rising housing prices.
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Roughly 40% of Redfin Survey Respondents Who Reside in Texas, Florida Would Prefer Living Somewhere Abortion Is Legal

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NASDAQ: RDFN - Redfin Survey Reveals Texas and Florida Residents Prioritize Affordability Over Social Issues
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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
118.58M
4.25%
63.33%
17.48%
Real Estate Services
Real Estate Agents & Managers (for Others)
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United States of America
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