Redfin Corp Stock Price, News & Analysis

Redfin Corporation (NASDAQ: RDFN) announced that CFO Chris Nielsen will present at the Wolfe Virtual FinTech Forum on March 11, 2021, at 3:40 p.m. ET. Investors can access the live webcast and replay at investors.redfin.com. Redfin is a technology-driven residential real estate company offering brokerage, iBuying, mortgage, and title services across over 95 markets in the U.S. and Canada. Since 2006, Redfin has saved customers nearly $1 billion and facilitated transactions worth over $152 billion.

The median home-sale price surged 16% year over year to an all-time high of $323,600, marking the largest increase since 2016, according to Redfin's report. Key housing market insights include a new record for asking prices at $347,475, an 18% rise in pending sales, and a 40% drop in active listings. Although winter storms and rising mortgage rates have slightly impacted sales, demand remains high, with homes selling quickly. The average sale-to-list price ratio hit 99.6%, indicating homes are selling closer to their asking prices.

RentPath has reached a settlement with CoStar Group (NASDAQ: CSGP) regarding a $58.75 million break-up fee, with CoStar agreeing to pay $52 million, or 88.5% of the fee, shortly after court approval. This resolution allows RentPath to focus on its upcoming acquisition by Redfin Corp (NASDAQ: RDFN) for $608 million, subject to regulatory approvals. RentPath's CEO describes this as a significant victory, aligning the company with a partner that shares its values and commitment to customer service.

The latest report from Redfin reveals that the median home-sale price in urban areas rose 15.9% year-over-year to $292,263. This marks the first instance since March 2020 where urban price growth has surpassed suburban and rural price growth, which saw increases of 15.5% and 14.3%, respectively. Urban pending sales surged by 25% year-over-year, outpacing suburban growth of 20.8%. Significant price increases were noted in Baltimore (37.8%), Detroit (37.7%), and Cleveland (33.4%). However, urban prices in San Francisco dropped by 1.4%, indicating disparities across markets.

Redfin (NASDAQ: RDFN) announced that CFO Chris Nielsen will attend the Tenth Annual Susquehanna Technology Conference on March 10, 2021. Redfin is a technology-driven residential real estate company that operates in over 95 markets across the U.S. and Canada. The company integrates various aspects of the home buying and selling process, providing brokerage, iBuying, mortgage, and title services. Since its inception in 2006, Redfin has saved nearly $1 billion for its customers and facilitated over 310,000 home transactions worth more than $152 billion.

In Q4 2020, single women bought 8.7% more homes than the previous year, outpacing single men's 4.6% increase. They represented 15.7% of total home purchases, up from 15.3%. Couples saw an 11.5% rise in purchases. Low mortgage rates encouraged home buying among single women, despite a recession impacting their workforce participation. The median home price for single women was $294,000, significantly lower than $310,000 for single men and $430,000 for couples. In Boston, single women comprised 25.4% of home purchases.

Redfin Corporation (NASDAQ: RDFN) has announced that Chief Financial Officer Chris Nielsen will present at the 2021 Truist Securities Technology, Internet & Services Conference on March 9, 2021, at 12:10 p.m. ET. The conference aims to showcase advancements in technology and services within the real estate sector. A live webcast and replay can be accessed through Redfin's investor website. Redfin continues to innovate in residential real estate, having saved customers nearly $1 billion since its launch in 2006.

Redfin (NASDAQ: RDFN) has announced an expansion of its Redfin Premier service to several luxury markets including Lake Tahoe, Los Angeles, Santa Barbara, San Francisco, Seattle, and Washington, D.C.. The service enhancement includes HD video tours and increased digital advertising to attract luxury buyers. Redfin Premier offers high-quality marketing tools, such as drone photography and 3D walkthroughs, while catering to homes priced over $1 million. Clients benefit from a competitive listing fee of only 1%.

As of March 1, 2021, Redfin reports a $3.1 trillion increase in U.S. home values amid the pandemic, raising total home worth to $32.4 trillion. The median home price hit $330,500, a 14.3% jump, marking the highest gain since 2013. Inventory plummeted by 23.6%, fostering intense bidding wars with 58.3% of offers facing competition. Luxury home sales surged 45%, while demand for second homes grew 84%. 2.7 million homeowners remain in forbearance, and 30.3% of Redfin users searched for different metro areas. These trends reflect significant market shifts during the pandemic.