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Redfin Corp - RDFN STOCK NEWS

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

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Redfin's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Redfin's position in the market.

News
Falling Mortgage Rates Breathe New Life Into Housing Market as Listings, Pending Sales and Price Growth Hit Highest Level in Roughly a Year
Rhea-AI Summary
Redfin (RDFN) reports that new listings and pending home sales have increased, while home prices have jumped, posting the biggest year-over-year increase since late 2022. However, deals are falling through at the highest rate on record due to lingering economic uncertainty, and some metros continue to see price declines.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.56%
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News
Redfin Reports Mortgage Rates and Housing Payments Drop to Lowest Level Since Spring
Rhea-AI Summary
Redfin (RDFN) reports a significant rise in new listings and mortgage-purchase applications, with mortgage rates falling to 6.82% and housing payments at their lowest level since April. The median U.S. home-sale price is up 4.5% year over year, reflecting a growing demand outpacing supply. Redfin's Homebuyer Demand Index is up 3% from a month ago, indicating a surge in homebuying services requests. The report also includes a detailed analysis of key housing-market data and metro-level highlights.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.91%
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none
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News
The Tide Turns for Renters as Asking Rents Post Biggest Decline in Over 3 Years
Rhea-AI Summary
Redfin (NASDAQ: RDFN) reports a 2.1% year-over-year decline in median U.S. asking rent to $1,967 in November, with a 0.6% drop since October. The rental market has lost momentum due to increased supply, leading to landlords lowering rents and offering concessions. Rents are still 22.1% higher than pre-pandemic levels, but have cooled due to economic uncertainty and slowing household formation. Apartment construction is still strong, leading to rising vacancies, with rents climbing in the Midwest and falling in the West.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.65%
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none
News
Redfin Extends New Agent Pay Plan in Southern California Offering Big Splits with Zero Expenses
Rhea-AI Summary
Redfin (NASDAQ: RDFN) expands its Redfin Next agent compensation plan to San Diego and Orange County, California, after the successful launch in San Francisco and Los Angeles. The plan offers competitive splits as high as 75%, covers virtually all business expenses, and provides technology, support, benefits, and customer introductions from Redfin.com, the #1 brokerage site in the United States. Redfin's new hires sold approximately one billion in real estate in the last two years, and the company expects top agents to earn even more under the pilot pay plan.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
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News
Redfin Launches AI-Powered Tool to Redesign Listing Photos
Rhea-AI Summary
Redfin (NASDAQ: RDFN) has launched Redfin Redesign, an AI-powered tool in partnership with Roomvo and Bright MLS, allowing buyers to virtually transform the interiors of for-sale listings and compare before and after photos.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.32%
Tags
AI
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News
Redfin Reports 2023 Has Been The Least Affordable Year for Homebuying on Record—But 2024 Is Looking Up
Rhea-AI Summary
Redfin (NASDAQ: RDFN) reports that 2023 has been the least affordable year to buy a home in Redfin’s records, with someone making the $78,642 median U.S. income needing to spend 41.4% of their earnings on monthly housing costs for the $408,806 median-priced U.S. home. The typical 2023 homebuyer needed to earn an annual income of at least $109,868 to spend no more than 30% of their earnings on monthly housing payments for the median-priced home. The median monthly housing payment for homebuyers in 2023 was a record $2,715, up 12.6% from 2022, while the median household income rose just 5.2% to an estimated $78,642. Mortgage rates hit a 23-year high of 7.79% in October, and the $408,806 median home sale price in 2023 is the highest of any year on record. Austin is the only metro that became more affordable, while Anaheim and Miami saw the biggest decreases in affordability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.32%
Tags
none
News
Redfin Report: Buyers Get an Early Holiday Gift as Rates Come Down and New Listings Rise
Rhea-AI Summary
Redfin (RDFN) predicts widespread home price declines in 2024 as mortgage rates continue to drop. The median U.S. housing payment was $2,561, down $177 from the record high in October. Mortgage-purchase applications are up 15%, new listings are up 7% year over year, and homeowners contacting Redfin for help selling their home have increased by double digits.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.32%
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none
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News
Redfin Predicts 2024 Will Be the Year Homebuyers Catch a Break, With Home Prices Falling and New Listings Rising
Rhea-AI Summary
Redfin (RDFN) predicts a shift toward a buyer’s market in 2024 as pandemic-driven inflation decreases, mortgage rates come down, and more people list their homes for sale. The company expects these trends to continue in the new year, ushering in a season of hope for aspiring homebuyers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.4%
Tags
none
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News
Redfin Report: Monthly Mortgage Payments Fall; New Listings Post Biggest Annual Uptick in Over 2 Years
Rhea-AI Summary
Redfin (RDFN) reported a decline in the median monthly mortgage payment by more than $150 from its peak to its lowest level in three months. New listings are also seeing their biggest year-over-year increase since summer 2021. The typical U.S. homebuyer’s monthly mortgage payment was $2,575 during the four weeks ending November 26, down $164 from a peak of $2,739 last month but up 13% year over year. Mortgage rates are falling from their peak, with the weekly average 30-year mortgage rate at 7.29%, down from a high of 7.79% in October. The median sale price is up 4% due to low inventory, but there is hope for buyers as new listings are up 6%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.65%
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none
News
Redfin Report: Nashville Lands on List of Popular Homebuyer Migration Destinations For First Time Since 2021
Rhea-AI Summary
Redfin (RDFN) reports Nashville as a top migration destination for homebuyers, with a typical home selling for $448,910 in October, half the cost of Los Angeles. Sacramento, CA was the most popular destination, with a typical home selling for $578,000, a million dollars less than San Francisco. 24.7% of Redfin.com users looked to move to a different metro area in October.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.25%
Tags
none
Stock RDFN logo
Redfin Corp

Nasdaq:RDFN

RDFN Rankings

#2768 Ranked by Market Cap
#1738 Ranked by Stock Gains
N/A Ranked by Dividends

RDFN Stock Data

714.26M
114.17M
4.18%
61.67%
17.21%
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About RDFN

redfin got its start inventing map-based search. everyone told us the easy money was in running ads for traditional brokers, but we couldn’t stop thinking about how different real estate would be if it were designed from the ground up, using technology and totally different values, to put customers first. so we joined forces with agents who wanted to be customer advocates, not salesmen. since these were our own agents, we could survey each customer on our service and pay a bonus based on the review. we deepened our technology beyond the initial search to make the home tour, the listing debut, the escrow process, the whole process, faster, easier and worry-free. and we gave customers more value, not just by saving each thousands in fees, but by investing in every home we sell, by measuring our performance and improving constantly. this is how real estate would be if it were designed just for consumers, because, well, it was.