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), described as a technology-powered real estate company, is a frequent source of detailed housing-market news and analysis. Its releases cover national and metro-level trends in home prices, listings, sales activity, mortgage rates, and buyer and seller behavior, drawing on data from hundreds of U.S. metropolitan areas and from its own brokerage and online platform.
On this news page, readers can find Redfin’s reports on topics such as record-high median home-sale prices, shifts in condo and single-family home markets, changes in pending sales and new listings, and regional differences in housing conditions. The company publishes recurring updates that highlight indicators like median asking prices, median monthly mortgage payments, days on market, the share of homes selling above list price, and cancellation rates for purchase agreements.
Redfin also issues news about specific segments of the market, including analyses of ultra-expensive home sales, the risk of home sellers accepting a loss, and the behavior of international buyers searching for U.S. homes on Redfin.com. In addition, the company announces product and partnership developments, such as its collaboration with Thumbtack to connect homeowners with local service professionals through the Redfin Owner Dashboard.
Investors and real estate watchers can use this RDFN news feed to follow how Redfin characterizes evolving housing-market dynamics and to see how the company positions its brokerage, rentals, lending, and title services within those conditions. Because Redfin combines operational data from its platform with broader market statistics, its news provides a recurring view into residential real estate trends across the U.S. and Canada.
Redfin (RDFN) has expanded its real estate services to Big Bear, CA, Ocean City, MD, and parts of Ulster County in Hudson Valley, NY. Customers can now engage local Redfin agents for home buying and selling, utilizing innovative tools on the Redfin platform. Redfin differentiates itself by offering lower commission fees—1% when buying and selling with Redfin agents, and 1.5% for standalone sellers. The company has saved clients over $1 billion in commissions since inception and now operates in over 100 U.S. and Canadian markets, catering to increasing demand for vacation homes post-pandemic.
Redfin Corporation (NASDAQ: RDFN) announced that Chief Financial Officer Chris Nielsen will participate in the 2021 RBC Capital Markets Global Technology, Internet, Media, and Telecom Virtual Conference on November 16, 2021. Redfin, a technology-driven real estate company, offers services including brokerage, iBuying, rentals, and renovations. It operates in over 100 markets across the U.S. and Canada, helping clients save over $1 billion in commissions since its inception in 2006. The company emphasizes customer-centric services, enhancing home-buying and selling experiences.
RedfinNow has launched in the Minneapolis-Saint Paul metro area, marking its entry into the 12th market this year and a total of 30 markets across 15 states and the District of Columbia. The service offers homeowners a hassle-free home-selling experience by providing cash offers without the need for traditional listings. Customers can select their closing dates and avoid open houses. This expansion aligns with Redfin's aim to provide diverse selling options and streamline the home-selling process for Minnesota homeowners.
Redfin Corporation (NASDAQ: RDFN) announced that CFO Chris Nielsen will present at the 1st Annual Needham Consumer Tech/E-Commerce Virtual Conference on November 22, 2021. Redfin is a tech-driven real estate company offering services like brokerage, iBuying, rentals, and more to enhance the home buying and selling experience. Since its inception in 2006, it has saved customers over $1 billion in commissions and operates in over 100 U.S. and Canadian markets with a workforce exceeding 6,000 employees.
Redfin Corporation (NASDAQ: RDFN) announced that Chief Financial Officer Chris Nielsen will participate in the 2021 Berenberg US CEO Conference on November 9, 2021.
Redfin is a technology-driven real estate company providing brokerage, iBuying, rentals, lending, and renovation services. They aim to sell homes for higher prices while charging lower fees, saving customers over $1 billion in commissions since 2006. With services across more than 100 markets in the U.S. and Canada, Redfin employs over 6,000 people.
Redfin's latest report reveals unseasonably high home prices and increased sales activity as of October 31. The national median sale price rose by 13% year-over-year, reaching $357,007, and 1.5% since October 10. Sales under one week surged to 33% and homes sold for 45% above listing prices. However, new listings fell by 7% compared to last year. Mortgage rates have slightly decreased to 3.09%, yet have risen overall since August, indicating a strong buyer urgency amid a constrained housing market.
Redfin Corporation (NASDAQ: RDFN) reported Q3 2021 financial results with revenues of $540 million, a 128% increase year-over-year. Gross profit grew 37% to $127 million, but operating expenses surged 163%$147 million, making up 27% of revenue. The net loss was $20.6 million, an improvement from $34.2 million last year. Despite a declining real estate services gross margin at 37%, Redfin achieved a 1.16% market share in U.S. existing home sales and saved customers over $83 million in fees.
In Q3 2021, the supply of America's most affordable homes surged 13% year-over-year as mortgage forbearance programs ended, according to a Redfin report. The affordable price tier saw a 1.6% increase in housing supply, while luxury and expensive segments experienced declines of 21.2% and 17.9%, respectively. Notably, high-end home sales fell for the first time in over a year, with luxury home purchases down 7%. Despite the increase in affordable homes, inventory remains below historic levels. Median sale prices rose across all price tiers, indicating strong buyer demand.
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