'The joy of painting' lives on in former Bob Ross artist retreat
The Mediterranean-style home in Florida was once owned by Bob Ross Inc. and hosted art retreats for Bob Ross-certified instructors and their students. Now it's for sale for $1.999M
by Lillian Dickerson Feb 15
Investors nabbed over a quarter of low-cost homes sold in Q4
Although 26% of low-cost homes were purchased by investors during the last three months of 2023, the share of homes bought by investors fell
by Ben Verde Feb 14
Amid climate concerns, Redfin adds air quality risk data to listings
Redfin will provide air quality risk data for every listing on its app and website, alongside data for wildfire, flood, wind and extreme heat
by Ben Verde Feb 12
Mortgage rates lead to biggest pending sales drop since October
A record one-day jump in mortgage rates on Feb. 2 pushed pending sales down 8 percent — the biggest decline since October, according to Redfin's latest market report
by Marian McPherson Feb 8
How love and politics are impacting homebuyers' decisions
Although affordability is still the No. 1 factor in most homebuyers' moves, 2 surveys from Zillow and Redfin reveal politics and romance also play a role
by Marian McPherson Feb 6
Luxury prices and cash buyers hit a new high to close out 2023
Strategic migration, low inventory and a demand for larger spaces have also contributed to rising luxury prices, agents told Inman, depending on the specific market
Redfin offers refund in exchange for buyer agency agreement
The new 'Sign and Save' program promises homebuyers a refund of 0.25% to 0.5% for signing a buyer agency agreement
by Ben Verde Feb 2
'Ziltorfin,' Silver Tsunami, lawsuits: Inman's Top 5
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers
by Dani Vanderboegh Jan 26
Want to halt the portal war? Standardize MLSs
At ICNY, proptech leaders Eileen Romito, Derek Hooper and Catharine MacIntosh explained how MLS rules led to the rule of real estate portals, and what can be done to take the power back
by Marian McPherson Jan 25
Realtor.com CEO 'loves' heated competition with Homes.com
Realtor.com CEO Damian Eales addressed the traffic rivalry with Homes.com and why competition is good for agents and consumers
by Marian McPherson Jan 25
Tracking the housing recovery? These 12 dates offer crucial clues
Intel is highlighting the most important data releases and events slated for each month of 2024 in an effort to help industry observers follow the arc of residential real estate's rebound this year
by Chris LeBarton Jan 24
Court says $200B commission suit against NAR must go forward
A federal court judge denied a request from the defendants to suspend the case pending the outcome of post-trial motions after the Sitzer | Burnett verdict
by Andrea V. Brambila Jan 18
Empty nesters own twice as many big homes as millennials with kids
Empty nest baby boomers own 28.2% of the large homes in the United States — twice as many as millennials with kids. Gen Z parents own only 0.3% of larger residences
by Ben Verde Jan 17
Broker Public Portal appoints former RE/MAX exec as CEO
Dan Troup will lead a company founded by brokerages and MLSs, which aims to build an alternative to big portals such as Zillow and Realtor.com
by Jim Dalrymple II Jan 11
Declining mortgage rates bring new-year market thaw: Redfin
Mortgage purchase applications and new listings have improved in recent weeks, thanks to a 25% decline in mortgage rates from October's peak of nearly 8%
by Marian McPherson Jan 11
Homebuyers are now paying $400 less per month than in October
After rates fell from October highs, homebuyers with a new mortgage are paying about $400 less each month. Still, there's no buying spree — yet
by Taylor Anderson Jan 4
Pandemic relocation boom wanes as remote work, cheap houses fade
The share of US homebuyers looking to move to a different city declined for the 3rd straight month in November, according to a new report from Redfin
by Ben Verde Jan 2
From Sitzer to Moehrl, 2023 was the year of commission confusion
Sitzer | Burnett and its verdict cast a long shadow that will extend into 2024 and potentially shake up the real estate industry. But it wasn't the only lawsuit with commissions in the crosshairs
by Andrea V. Brambila Dec 28
Rates keep falling, and buyers and sellers are springing into action
Listings and pending sales hit the highest level in roughly a year, according to a new report from Redfin. Still, a record number of contracts were canceled
by Taylor Anderson Dec 15
DelPrete: Unprofitability raises questions about Redfin's viability
According to Mike DelPrete, high debt, low cash and a lack of profitability in its business model call into question Redfin's current trajectory and its plans for the future
by Mike DelPrete Dec 12
Redfin expands commission-based model in Southern California
New commission-based model, Redfin Next, is now available to agents in San Diego and Orange County. Agents keep their W-2 status and benefits while getting commission splits of up to 75%
by Marian McPherson Dec 12
Redfin rolls out AI-enhanced digital self-staging tool for homebuyers
In partnership with Roomvo, the brokerage and search portal's new Redfin Redesign tool grants homebuyers the ability to alter room finishes while alerting agents to a buyer's growing interest
by Craig C. Rowe Dec 8
Buckle up for the 2024 portal war
Expect the portal wars to go into overdrive in 2024, with CoStar Group leading an ambitious effort to unseat Zillow as the country's top real estate portal, technology advisor Mike DelPrete writes
by Mike DelPrete Dec 6
Seattle-based Coldwell Banker franchise ditches NAR
The company is the latest of several to step away from the National Association of Realtors, which has suffered both a scandal and legal defeats in recent months
by Jim Dalrymple II Dec 1
Americans' average mortgage payment falls $164 in November
A dip in the weekly average for 30-year mortgage rates dropped the average mortgage payment to $2,575 in November, and homebuyers are taking advantage
by Marian McPherson Nov 30
Redfin launches new housing price tracker index
The tool is described in an announcement from the brokerage as similar to the Case-Shiller Home Price Index, but with more real-time and metro-level data
by Ben Verde Nov 28
Signs of a buyer's market emerge as homeseller concessions return
More than a third of all home sales featured a concession in the past 3 months, according to new data and agents who told Inman that they're beginning to see signs of a buyer's market unfold
by Ben Verde Nov 27
Homebuyers demand school data. Portals are grappling with the risks
Home-listing portals all rely on the same source for school ratings, which are treated as essential by many homebuyers. If used improperly, critics fear the data could lead to Fair Housing violations
by Marian McPherson Nov 22
Mother of all commission suits filed in Illinois, this time by homebuyers
'Batton 2,' exponentially larger in scope than Sitzer | Burnett and the Moehrl commission suits, was filed last week in Illinois and takes aim at many of the defendants in another suit called Gibson
Sitzer | Burnett plaintiffs' attorneys in talks with Department of Justice
Disrupting the National Association of Realtors' use of multiple listing services as a 'vehicle for higher commissions' is at the center of talks, lawyer Michael Ketchmark told Inman exclusively
Redfin CEO: With commissions in peril 'cooperation may crumble'
Redfin CEO Glenn Kelman said at Inman Connect on Wednesday that pressure from lawsuits and the Department of Justice may ultimately lead to 'a different world' than the one that exists today
by Jim Dalrymple II Nov 1
Sitzer attorney files new suit against Compass, Redfin, others
Michael Ketchmark filed the new lawsuit just moments after a jury sided with his clients in the Sitzer | Burnett case. The new suit claims another batch of companies committed a conspiracy
Redfin eliminates salaries, pivots to commission model in LA and SF
Redfin will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program
by Jim Dalrymple II Oct 25
Buyers continue downward spiral, but new listings may be steadying
Homebuyers are backing away from the market as mortgage rates continue to climb. But new listings aren't declining as quickly, Redfin reports
by Daniel Houston Oct 19
Anywhere reveals the details of its bombshell commission settlement
Among the proposed changes, Anywhere said its company-owned brokerages, franchisees and affiliated agents will no longer be required to belong to the National Association of Realtors
by Taylor Anderson Oct 6
A reverse arrow on a street
An attorney for the Sitzer/Burnett homeseller plaintiffs calls the change a 'stunning admission of guilt' on the eve of a class-action trial set to start Oct. 16
Lack of family, friend support keeps LGBTQ+ buyers behind: Redfin
Redfin survey reveals LGBTQ+ consumers disproportionately struggle with lack of family support during homebuying due to heteronormative expectations for marriage and household formation
by Marian McPherson Oct 4
Intel unpacks the startling price of entry into the US housing market
Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers
by Marian McPherson Oct 4
Andy Florance: Bombshell lawsuits will upend Zillow's business model
CoStar CEO Andy Florance dished with Intel about the commission lawsuits, Zillow and NAR as Homes.com nabbed 100M unique visitors for the first time ever in September
CoStar's Homes.com beats Redfin, Realtor.com to become No. 2 portal
In a sign of the listing portal's growing influence, Homes.com hit more than 100M unique visitors in September, sparking a 1,290% annual increase in traffic. Now the portal is second only to Zillow
Redfin leaves NAR — and calls on its brokers and agents to follow suit
In a message to employees on Monday, Redfin CEO Glenn Kelman cited NAR's harassment scandal and other grievances as reasons for calling on 1,800 Realtors to cancel memberships
by Ben Verde Oct 2
Glenn Kelman sees silver lining in sales spiral: 'It can't go much lower'
Redfin CEO Glenn Kelman said Tuesday on CNBC that as sales continue to decline, the company will need to cut costs strategically and respond to economic challenges one day at a time
by Lillian Dickerson Sep 27
Record share of homebuyers flee into the path of climate change
People are concerned about the changing climate's impact on their hometowns, but they're more concerned about a lack of housing affordability, according to a new report from Redfin
by Taylor Anderson Sep 27
Buyers cancel contracts in droves as prices and interest rates soar
Nearly 60,000 home purchase contracts were canceled nationwide during August, even when it meant losing their earnest money deposits, according to Redfin's report
by Ben Verde Sep 18
Return-to-office policies aren't the only reason people are moving
In-office requirements were identified as an emerging factor in the real estate market, as fewer and fewer companies are willing to accommodate remote work, according to a report by Redfin
by Ben Verde Sep 14
Vacation home demand near 7-year low due to costs, employer policies
Mortgage-rate locks on second homes were down 47% from pre-pandemic levels in August as market factors have made owning a second home more costly and complicated in the last year
by Lillian Dickerson Sep 14
Rent remains near record highs, but the balance of power is shifting
At $2,052, the median monthly rent remains near its all-time high. But builders are wrapping up construction on thousands of new units, and rents could start falling soon
by Taylor Anderson Sep 12
Bay Area homesellers cringe, with 1 in 8 losing money at closing table
Some 12.3% of San Francisco homesellers who sold their homes during the 3-month period ending July 31 lost money on the sale
by Ben Verde Sep 6
Investor activity keeps slowing down from pandemic-era highs
Phoenix, Las Vegas and other Sunbelt metro areas saw the biggest slowdowns in investor activity as high rates and low demand cooled activity nationwide, according to reports
by Taylor Anderson Aug 31
Redfin President of Real Estate Services Adam Wiener is moving on
In a memo to employees, Redfin CEO Glenn Kelman said the 15-year veteran of the company will serve as an advisor after his final day on Sept. 8. Redfin has no plan to fill the vacated position
by Lillian Dickerson Aug 31
Real estate has trimmed its losses. But 'winter is coming': DelPrete
Even as real estate companies cut costs and narrowed losses in the second quarter of 2023, the third quarter may deliver the truest test of their financial mettle, Mike DelPrete told Intel
by Daniel Houston Aug 30
Pending home sales climb to 2023 high following months of declines
Pending home sales rose 0.7% from June to July, reversing 7 months of declines. However, rising rates and home prices are poised to stifle sales growth into the fall, Redfin said on Friday
by Marian McPherson Aug 25
Share of homebuyers looking to move cities hits new high
Homebuyers have been dropping out of the market. Of the ones who are still in, more are eyeing a cross-city relocation, Redfin data suggests
by Daniel Houston Aug 23
The internet fell hard for real estate in 2021. But can the love affair last?
Nearly 3 years after 'Saturday Night Live' declared 'real estate is your sex now' in a popular Zillow parody, mind share around the industry is sagging, according to an Intel analysis of traffic data
by Jim Dalrymple II Aug 23
Redfin’s return to office shows unique stress for US office market
Experts expect US companies to adjust remote work policies in the coming 6-12 months as office market suffers. 'Our cultures are different around work-life balance,' said CBRE's Julie Whelan
by Taylor Anderson Aug 22
The Agency rides into Kentucky with Louisville franchise
As the luxury brokerage continues to expand its Midwestern presence, it has strategically moved into Kentucky with Managing Partner Jason Farabee leading the new office, the company said
by Lillian Dickerson Aug 22
Redfin CEO says housing sales volume has hit 'rock bottom'
Redfin CEO Glenn Kelman on Wednesday told MarketWatch that current transaction levels — sustained primarily by people who absolutely need to move — are about as low as they ever get
by Daniel Houston Aug 18
Texas, Florida buyers are trading civil rights for affordability: Redfin
Residents in Florida and Texas would rather live in states with abortion care and LGBTQ rights, but affordability worries force them to stay in their current states, according to a new Redfin survey
by Marian McPherson Aug 16
In crucial Q2, real estate separated wheat from the chaff: Intel analysis
The biggest publicly traded brokerages and tech companies significantly slashed losses in the second quarter, restoring investor confidence, according to an Intel analysis of Q2 earnings data
by Daniel Houston Aug 16
A stock analyst reveals the 2 big winners from Q2 earnings season
Among the publicly traded real estate enterprises to release second-quarter earnings reports this month, 2 companies stood out for John Campbell, a managing director at analytics firm Stephens
by Daniel Houston Aug 16
Nearly 1 in 9 US homes command $1M as luxury prices soar in June
The share of US homes valued at $1M or more stopped shy of a record notched last summer as high mortgage rates and low inventory drove home prices upward in June, a Redfin analysis shows
by Lillian Dickerson Aug 14
Worth of US homes nears $50T as real estate values hit all-time high
The total worth of homes in the United States hit a record high of $46.8T in June, overtaking the prior all-time high of $46.6T set a year earlier, according to the analysis by Redfin Friday
by Ben Verde Aug 11
Redfin flirts with exclusive listings amid Clear Cooperation takedown
Redfin Senior Director of Brokerage Operations Joe Rath and NextHome CEO James Dwiggins said during an Inman Connect panel that pocket listings have proliferated since Clear Cooperation
by Craig C. Rowe Aug 10
'Run for the fire': Liz Gehringer shares advice for a downturn
'This is not a time to stabilize. If you stabilize in a market like now you're going to fall behind. You have to grow,' Redfin's Jason Aleem said at Inman Connect Las Vegas Wednesday
by Taylor Anderson Aug 9
Real estate is having its Blockbuster vs. Netflix moment
At Inman Connect Las Vegas, real estate strategist Mike DelPrete explained the 'unfair advantage' of the low-fee business models and how agents are the ultimate solution
by Marian McPherson Aug 8
The ultimate guide to Inman Connect Las Vegas 2023
So you've decided to join us at Inman Connect Las Vegas. Bravo! Here's a day-by-day breakdown of the conference along with some tidbits to get the most out of your week in Sin City
by Marian McPherson Aug 8
Redfin exec: Clear Cooperation is failing to stop pocket listings
Joe Rath is Redfin's senior director of brokerage operations and head of industry relations. He shared thoughts on Clear Cooperation ahead of his appearance at Inman Connect Las Vegas
by Jim Dalrymple II Aug 7
To win this summer, homebuyers in California are turning every stone
With some of the highest home prices in the nation, California buyers and sellers are having an abnormally difficult time managing higher mortgage rates, agents in the Golden State told Inman
by Marian McPherson Aug 4
Redfin narrows losses amid rough Q2 as it braces for more turbulence
Redfin's Q2 revenue declined 21% year over year to $275.6M, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday
by Marian McPherson Aug 3
Team of rivals: Zillow, Redfin unite to share new construction listings
New construction listings on Zillow will now automatically be syndicated to Redfin. The companies believe the partnership will extend the reach of the homebuilders' listings while aiding consumers
by Jim Dalrymple II Aug 2
Grant Cardone: These are the worst real estate markets to invest in now
As an interaction with an AI chatbot went south, Cardone blasted Austin and Seattle as the worst places to invest in real estate given how overbuilt the markets have become in recent years
by Lillian Dickerson Jul 31
Redfin adds new tool that shows home's risk of damaging winds
Nearly half the people who moved within the US in the past year believe they’ll be impacted by climate change in the next decade, according to a survey the company conducted in the spring
by Taylor Anderson Jul 31
A small home with a baby stroller in front
The annual paycheck for a 1st-time homebuyer is roughly $64,500 to afford the typical US 'starter' home in 2023 — up 13% from a year ago, according to a report from Redfin
by Ben Verde Jul 28
Home prices jumped at biggest rate since November: Report
A drop in supply was enough to offset the drop in demand, sending prices up 2.6% in July. That's the biggest jump since November, according to Redfin
by Taylor Anderson Jul 27
Will the second quarter of 2023 match real estate's Q1 meltdown?
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they're watching with Intel
by Jim Dalrymple II Jul 26
Americans are moving into flood-prone cities at alarming rate: Data
Migration into flood- and wildfire-prone counties has more than doubled since the COVID-19 pandemic began, according to a Redfin analysis of domestic migration data released Monday
by Ben Verde Jul 24
Redfin CEO: Adjustable-rate loans may push sellers off the sidelines
In an interview with CNBC on Wednesday, Redfin CEO Glenn Kelman laid out some of the variables that might begin to unlock home inventory in the years to come, including adjustable rate resets
by Daniel Houston Jul 20
Fewer than 2% of homes changed hands in 2023, marking 10-year low
Thanks to low inventory and high mortgage rates, just 14 homes out of 1,000 changed hands in the first 6 months of 2023, the lowest rate in a decade, according to data released Tuesday by Redfin
by Ben Verde Jul 18
Median sale price climbs to $426K for only 2nd time in US history
Undeterred by high mortgage rates, buyers battling over scant inventory pushed June's median sale price to the 2nd-highest level in history, according to new data released Monday by Redfin
by Marian McPherson Jul 17
Cash is still king as Florida agents navigate 'wonkiest market' in years
As the summer housing market in Florida heats up, homebuyers and sellers are discovering a tale of 2 markets that offers opportunities for luxury buyers — and next to nothing for everyone else
by Marian McPherson Jul 14
US rent hits just shy of all-time record high: Report
Despite having cooled for more than a year, the median asking rent in the US remained just $24 below its all-time high as of June 2023, Redfin reported
by Lillian Dickerson Jul 12
The stories and trends that defined a whirlwind first half of 2023
Intel takes a look back at the market trends, brokerage strategies, Wall Street happenings and legal controversies that shook the past 6 months and could well define the remainder of 2023
by Marian McPherson Jul 5
New listings plummet 27%, marking biggest annual fall since pandemic
The number of new listings coming onto the market has plunged since June 2022, according to data released Thursday by Redfin. Transaction levels remain low even as home prices creep higher
by Daniel Houston Jun 29
NAR CEO Bob Goldberg plans to retire at the end of 2024
Goldberg's contract will expire on Dec. 31, and the executive plans to retire after 3 decades at NAR and 4 decades in real estate, according to the National Association of Realtors
by Taylor Anderson Jun 21
Want to buy a home? It'll cost you $1,030 a month more than renting
The premium for buying a home is now 17% higher than it was a year ago thanks to high interest rates and stubborn home prices, according to John Burns Real Estate Consulting
by Taylor Anderson Jun 15
Empty cupboards: The US has 39% fewer homes for sale than in 2018
New listings dropped 23% year over year, pulling the number of homes on the market down 39% compared to the same period 5 years ago, according to an analysis by Redfin issued Thursday
by Ben Verde Jun 15
Nearly 92% of all US homeowners now have a mortgage rate below 6%
The vast majority of homeowners boast a mortgage rate below the current average of 6.71% — a bittersweet pill that explains the stalemate playing out in housing markets across the country
by Ben Verde Jun 14
Robert Reffkin: Sub-4% mortgages are 'handcuffs' for home inventory
In a Bloomberg Markets TV appearance, the top boss at Compass said homeowners are treating a 3% mortgage rate 'as a financial asset' — at least for now
by Daniel Houston Jun 8
Third of homes now purchased in cash, highest level in 9 years
A new report released by Redfin found that 33.4% of home purchases were made in cash during April 2023 — up from 30.7% a year earlier
by Ben Verde Jun 7
Investment activity tallies record fall as purchases tumble 49% in Q1
Overall home purchases dropped 41%, suggesting investors have pulled back from the market more than consumers during a period of high rates and volatile home prices, according to Redfin
by Taylor Anderson Jun 1
The portal wars: Can any challenger seize the throne from Zillow?
Zillow has the most traffic, according to an analysis by Intel, but at least 1 rival is growing rapidly in what one observer compared to a Game of Thrones-style gauntlet run
by Jim Dalrymple II May 24
Mike DelPrete: Zillow and Redfin's AI tools aren't that big a deal — yet
In an interview with Intel, tech strategist Mike DelPrete laid out how artificial intelligence might change the industry — including real estate search portals — and why we're not quite there yet
by Daniel Houston May 24
Massive metro-to-metro home price gaps reach 13-year highs
Early-pandemic migration trends are still impacting market growth, with pandemic boomtowns' home price growth still outpacing historically expensive coastal markets
by Marian McPherson May 23
5 key charts that illuminate real estate's Q1 earnings season
Most publicly traded real estate companies continued to bleed money in the first chunk of 2023. These metrics help explain why investors aren't panicking
by Daniel Houston May 17
Spring market falls short, but low inventory is driving up competition
New listings were down 19% during the 4-week period ending May 7, while pending home sales were down 16%, according to a new report from Redfin
by Ben Verde May 12
Real estate stocks are suddenly and finally on fire
Redfin, Opendoor and Compass have all seen their share prices rally in recent days — suggesting that after years of the cold shoulder investors are warming to the sector
by Jim Dalrymple II May 11
Redfin narrows losses as revenue falls 45% in first 3 months of 2023
Redfin's Q1 revenue declined 45% year over year to $325.7M, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday
by Marian McPherson May 4
Zillow, Redfin go head-to-head with new ChatGPT plugins
The competing companies' plugins will allow users to employ conversational language as they search for home listings
by Ben Verde May 3
Eyes on inventory as Q1 earnings ramp up following a chilling 2022
Jay McCanless, a senior vice president of equity research at Wedbush Securities, reveals what he'll be watching as publicly traded real estate companies post Q1 earnings this week and next
by Jim Dalrymple II May 3
Half of homes on market are selling within 2 weeks, marking 1-year high
While homeowners are staying put out of reluctance to lock in higher mortgage rates, the few homes on the market are drawing competition, according to a report released Friday by Redfin
by Ben Verde Apr 28
Redfin calls employees back to the office part-time: ‘No exceptions’
‘Some people will quit over this decision,’ Redfin CEO Glenn Kelman told employees on Monday in an internal memo. ‘No one can say we haven’t made it deliberately.’
by Taylor Anderson Apr 25
Nearly 1 in 7 homes sold in March went for less than investors paid
Investor profits are falling, and the number of investors losing money reached the highest point since 2016, according to a new report from Redfin
by Taylor Anderson Apr 21
Median home price tallies largest annual drop in more than a decade
Pandemic-era boomtowns and tech hubs fueled an annualized 3.3% drop, to $400,528, according to new data. 'There’s this fear that everything will crash,' reports one Redfin agent in Boise, Idaho
by Ben Verde Apr 19
Rent in March posted the 1st annual decline in 3 years: Redfin
The median asking rent in the U.S. fell to its lowest point in 13 months in March as the ongoing real estate slowdown continues hitting the rental market, according to a new report
by Taylor Anderson Apr 14
Redfin lays off 201 staffers in third round of 'painful' cuts since June
The brokerage said employees impacted by the latest round of layoffs were primarily in the real estate support department, but some unidentified executives were also let go
by Ben Verde Apr 13
Cash to burn: Do real estate's big players have enough in the bank?
Real estate businesses burned through billions in cash last year. Intel breaks down the biggest companies with the least wiggle room as economic uncertainty stretches into 2023
by Daniel Houston Apr 5
'My phone is ringing': Homebuyer demand soars to 9-month high
Mortgage applications increased 2% from a week earlier, marking the 4th week of increases while purchase applications rose 19% from a month earlier, according to data released Friday by Redfin
by Ben Verde Mar 31
Will migration fizzle out in 2023? History points to existential shift
The migration trends that drove housing demand during the pandemic are ending. But that doesn't mean people aren't moving, according to an Inman analysis of historic data
by Jim Dalrymple II Mar 31
'Great Reshuffling' winds down as COVID hotspots and tech hubs cool
Cities in the West that saw prices soar during the pandemic are now cooling while metros in the Northeast and Midwest are showing more resilience, according to a new analysis
by Jim Dalrymple II Mar 27
Market shift highlights brokerage fundamentals
The recent market shift has been a 'great equalizer,' accentuating the differences among brokerage models and the importance of agent count
by Mike DelPrete Mar 27
Redfin issues first-ever corporate sustainability report
In its inaugural sustainability report on Wednesday, Redfin shared its efforts to improve housing access, equity and sustainability alongside corporate diversity and inclusion
by Marian McPherson Mar 23
Typical home down payment falls to 2-year low as concessions return
The typical down payment for a homebuyer in the United States fell 10% between January 2022 and 2023, to $42,375, according to new data released Wednesday by Redfin
by Ben Verde Mar 22
Redfin Premier expands nationally to more than 100 new markets
Redfin Premier, which matches luxury homebuyers and sellers with a Redfin Premier agent and marketing tools specific to the luxury brand, is launching in every market the brokerage operates
by Lillian Dickerson Mar 16
45% of sellers offered concessions coming into 2023: Redfin
As the market shifts, so are homesellers' tactics. Nearly half of sellers offered concessions or price cuts during the beginning of the year, a reverse of years of bidding wars
by Marian McPherson Mar 15
Monthly homebuyer payments just hit all-time high as spring arrives
The typical monthly payment rose to $2,563 this week despite home prices that were down 1%, according to data on Friday. That’s the highest monthly payment on record, up 29% from last year
by Taylor Anderson Mar 10
Luxury home purchases hit record low as buyers eye other investments
Luxury home sales fell 44.6% year over year, according to data released Friday by Redfin. Prices are nevertheless still high because inventory is so low, economists say
by Jim Dalrymple II Mar 10
There are 1.25 million fewer million-dollar homes in America in 2023
The share of $1M homes in the US dropped from a high of 8.6% in June 2022 to approximately 7% in January, due in part to higher mortgage rates that have cut into homebuyer purchasing power
Home sale prices post annual drop for the first time in a decade
The median US home sale price declined marginally between February 2022 and 2023, clocking in at $350,426, according to new data released Thursday
by Ben Verde Mar 3
The time a typical homeowner stays in one place just got a little shorter
Migratory waves over the past 3 years due to the pandemic have caused homeownership tenure to decline modestly, but an uptick is expected thanks to a rise in mortgage rates, Redfin data shows
by Ben Verde Mar 1
Proptech has reached an inflection point. So, like, what happens now?
Disruptive sales models, lead aggregators and search products have transformed proptech into a true marketplace while freeing venture capitalists up to become more than mere power brokers
by Craig C. Rowe Mar 1
Investor activity slows, still makes up 1 in 4 homes sold in US
New data from John Burns and Redfin shows that investor activity slowed toward the end of 2022 but still accounted for about 1/4 of home sales. That's up from about 11 percent in 2001
by Taylor Anderson Feb 28
Zillow gets vote of confidence from JP Morgan analysts
Analysts gave Zillow an 'overweight' rating which means they expect Zillow to outperform peer companies. The report also sets Zillow's share price target at $48 by December of this year
by Jim Dalrymple II Feb 28