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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.
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Redfin (NASDAQ: RDFN) forecasts a significant shift in the U.S. housing market, predicting a 1% decline in median home-sale prices by Q4 2025. This marks the first sustained price decline since 2012, driven by rising inventory levels (+16.7% YoY) and falling sales (-1.1% YoY). The company expects mortgage rates to remain elevated near 6.8% through 2025.
Additionally, home-purchase cancellations reached 14.3% in April 2025, the second-highest April rate on record, with approximately 56,000 deals falling through. Atlanta leads with a 20% cancellation rate, followed by several Florida markets. The market slowdown is characterized by longer selling times (40 days, up 5 days YoY) and increased seller concessions, creating more favorable conditions for buyers to negotiate.
Redfin reports a significant 8.4% year-over-year increase in new home listings during the four weeks ending May 18, 2025, reaching the highest level in nearly three years. However, buyer activity remains subdued, with pending sales dropping 2.2% to record lows and mortgage purchase applications declining 5% week-over-week. The total housing inventory has surged 14.3% year-over-year, reaching a five-year high.
Housing affordability continues to be a major challenge, with the median monthly housing payment hitting an all-time high of $2,882. This is driven by a 1.7% year-over-year increase in home prices and mortgage rates near 7%. The median sale price stands at $391,725, while the median asking price is $431,450. Consumer sentiment remains low amid economic uncertainties, including fears of a trade war and potential recession.
Redfin (RDFN) reports that U.S. home prices decreased by 0.1% in April 2025, marking the first monthly decline since September 2022. The year-over-year price growth slowed to 4.1%, down from 4.9% in March, reaching its lowest level since July 2023.
The decline is attributed to two main factors: reduced buyer demand due to economic uncertainties and increased housing supply reaching a five-year high. Among the 50 most populous metro areas, 25 experienced price decreases, with Charlotte, NC (-1%), Virginia Beach, VA (-1%), and Miami (-0.7%) showing the largest declines. Conversely, Nassau County, NY led price increases at 1.8%.
Despite the slight price softening, Redfin Senior Economist Sheharyar Bokhari notes that affordability remains a significant challenge for buyers due to elevated mortgage rates and high home prices.
Redfin (RDFN) reports a 3.4% year-over-year decline in pending U.S. home sales for the four weeks ending May 11, 2025, reaching the lowest level for this time of year since 2020. The decline is attributed to two main factors: high housing costs, with the median monthly payment reaching $2,860 (near record high), and economic uncertainty causing buyer hesitation.
Despite challenges in sales, new listings increased by 5.1% year-over-year, and total homes for sale rose 14.3%. The median sale price increased by 1.8% to $390,998, while the median asking price rose 6.5% to $429,850. Nearly half of home sellers are offering concessions, creating opportunities for buyers to negotiate better deals.