Mike DelPrete Intel exclusive: Big brokerages spar in race to cut costs
Opinion
All of the biggest players in real estate are cutting costs, but some are better off than others to weather the storm, Mike DelPrete argues in his first exclusive filing for Inman Intel
by Mike DelPrete Jan 18
Kelman: 'I probably should have closed the iBuying business earlier'
Redfin CEO Glenn Kelman told the 'AP' he wishes he'd closed RedfinNow earlier than during the market correction taking place, calling the business model too risky and expensive
by Ben Verde Jan 17
Opendoor in 2023: The iBuying king and a business model in turmoil
Opendoor faces a fight for survival after ‘an abrupt strategy pivot’ sent it to 2023 ‘without a proven business model.’ See the 5 biggest challenges facing the king of a troubled business model
by Taylor Anderson Jan 17
Rent growth slows to smallest rate since July 2021
While the 4.8% growth was still above historical norms, it’s the smallest increase since June 2021. Median asking rent in the nation’s 50 largest markets climbed to $1,979 last month
by Taylor Anderson Jan 12
Redfin adds energy cost estimates to listing information
The new feature, prepared through a partnership between the brokerage and Wattbuy, will display an estimate of the homes' monthly electricity bills and seasonal changes in pricing
by Ben Verde Jan 12
Glenn Kelman calls millennials 'the roommate generation'
In an appearance on 'Barron's Live,' Redfin's CEO explained how rising mortgage rates have trapped homeowners and homebuyers into a housing purgatory, tough for anyone to make a move
by Marian McPherson Jan 12
Anywhere lays off more workers, announces end of RealSure iBuyer
The company has slashed its workforce by 11% since last June, according to US Securities and Exchange Commission filings. The moves come following months of housing market declines
by Jim Dalrymple II Jan 10
Pending home sales fall to lowest level since 2015, new data shows
Pending home sales dropped 32% annually during the 4-week period ending Jan. 1, with the biggest drop-offs recorded in markets that took off during the pandemic, according to Redfin
by Ben Verde Jan 6
Redfin faces a steep battle as it claws its way toward profitability
Analysts said Redfin isn't facing an existential moment but nonetheless experienced a uniquely rough period over the past year. These are the 5 biggest challenges Redfin will face in 2023
by Jim Dalrymple II Jan 4
Luxury housing market plunges to new low as priciest inventory rises
Stock market declines and recession concerns stopped the luxury market in its tracks in Q3, with home sales in the top percentile of the market declining 38% year over year, according to Redfin
by Marian McPherson Dec 28
Monthly payments drop $300 and some homebuyers wade back in
As home price growth has slowed, mortgage payments have decreased and days on market have risen, homebuyers dip their toes back into the market, according to a new report from Redfin
by Lillian Dickerson Dec 23
Luxury in '22: Market slowdowns, reality TV, the metaverse and more
Luxury buyers finally decided to take a pause in 2022 as economic volatility shook the market. But despite a market slowdown, luxury companies and agents kept making interesting moves
by Lillian Dickerson Dec 23
Sales plunge 35% in November, marking biggest decline on record
Home sales posted their biggest annual decline since Redfin started tracking the metric in 2012
by Ben Verde Dec 22
'Lego Movie' honcho inks $91M sale, rounding out biggest deals of 2022
Jonathan Burton, a video game designer, film producer and director behind more than 2 dozen Lego movies and games, sold the Malibu mansion at the wire to score 1 of the top deals of 2022
by Taylor Anderson Dec 22
Real estate in 2022: When the #@!$ finally hit the fan
Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down
by Jim Dalrymple II Dec 19
Rent keeps falling. Here are the cities where it’s falling fastest
14 major metro areas reported year-over-year declines in the median cost to rent an apartment, according to Redfin. It's only the latest sign of widespread slowdown in rent
by Taylor Anderson Dec 13
Supply of homes tally record uptick as property lingers on the market
The number of homes on the market increased 15% year over year during the 4 weeks ending Dec. 4, while new listings declined by 20%, according to new data released Thursday by Redfin
by Ben Verde Dec 9
Expect housing market to crawl in 2023 before it can run: Redfin
Mortgage rates will fall to Earth in 2023 — but not before home prices tally significant declines and sales slump to their slowest pace in 12 years, according to a new forecast from Redfin Tuesday
by Ben Verde Dec 7
Homes for sale were pulled from the market at record pace in November
In the biggest decline in active listings since at least 2015, an average of 2% of all US homes for sale were delisted during a 12-week period ending Nov. 20, according to data Friday by Redfin
by Ben Verde Dec 2
Redfin economist: 'We're going to have pain' while high inflation lasts
Daryl Fairweather also said during her Yahoo Finance appearance that 'demand is very weak' as both homebuyers and sellers take a breather from the housing market
by Jim Dalrymple II Nov 30
All brokerages are entering the winter of real estate: Mike DelPrete
Opinion
Now that earnings are in for the big box brokerages, the anticipated revenue decline is clear. But does it tell the whole story?
by Mike DelPrete Nov 30
Phoenix, Arizona
Median home price growth has slowed the fastest in Austin, Phoenix and San Jose, with fellow pandemic boomtowns Las Vegas and Boise also seeing significant slowdowns
by Ben Verde Nov 28
Investor activity plunged at rates similar to the Great Recession in Q3
The slowdown was most dramatic in COVID boomtowns like Las Vegas and Phoenix, according to a new analysis Tuesday by Redfin, which examined real estate investment activity in 40 metros
by Taylor Anderson Nov 22
Mortgage rates dropped faster this week than at any time in 40 years
The fall from 7.08% to 6.6% would save buyers approximately $100 a month on a median priced home, according to a report released Thursday from Redfin
by Taylor Anderson Nov 18
Want to buy a home? You'll need to earn at least 6 figures
Buyers need to earn at least $107,281 to afford the $2,682 monthly mortgage payment on the typical American home, according to a new report
by Ben Verde Nov 15
Home sale prices post smallest increase since July 2020
Home sale prices increased by 3.2% year over year, a drop of 8.4% from their all-time high recorded in June, according to a new report by the online brokerage Redfin
by Ben Verde Nov 11
Redfin sees losses soar in Q3 as it winds down iBuying program
The company earned $600.5M in revenue during the third quarter, but also lost $90.2M — up from a loss of just $18.9M in the third quarter of 2021 — amid a worsening housing market
by Jim Dalrymple II Nov 9
Redfin shuts down iBuyer Redfin Now while slashing 13% of workforce
As many as 264 employees impacted by the cuts were from Redfin Now, the company's iBuying division, while an additional 218 jobs from other departments are also being eliminated
by Ben Verde Nov 9
Redfin called 'fundamentally flawed' by analyst amid stock market havoc
Real estate companies including Compass, Offerpad and Opendoor saw share prices hit all-time lows Monday. The rout suggests investors may have deep concerns about the real estate industry
by Jim Dalrymple II Nov 7
Abuzz, then a bust: What happened with all that big 'platform' chatter?
Opinion
Real estate platforms were a hot topic a few years ago, but for even some of the biggest companies, sprawling enterprise has been the quickest way to failure, Inman founder Brad Inman writes
by Brad Inman Nov 7
'Great Reshuffling' could impact elections in Arizona, Nevada: Redfin
Redfin data shows that Arizona and Nevada were the second and third most popular states respectively for people moving away from California in 2020
by Ben Verde Nov 3
Redfin's Glenn Kelman has a theory on why housing prices are plunging
Investors, including iBuyers, that entered the housing market in 2020 and 2021 are at least partly to blame for the dramatic price correction playing out in 2022, Kelman said in a new interview
by Ben Verde Nov 1
Amid COVID, Americans relocated to battleground states in droves
As midterm elections approach, Redfin crunched housing data and found that enough Americans relocated to key counties in red and purple states in 2021 to potentially shift political leanings
by Ben Verde Oct 31
Prices and rates are sky high! But what if my client NEEDS to move?
Despite mortgage rates near 7% and generationally high inflation, thousands of people still need to move in the next year and need help in navigating homebuying in the pricy market
by Ben Verde Oct 27
Splitero expands equity-sharing service into Colorado, Washington
The expansion comes as 85% of homeowners with a mortgage have a rate far below the current 7% yet high equity in their home. Splitero said expansion plans will continue in other states in 2023
by Taylor Anderson Oct 25
hunt, predator, prey, hunter
Cash is king. In today's market, a company’s cash flow determines if it is in control of its own destiny
by Mike DelPrete Oct 24
Square footage in suburban homes now worth more than in cities
Typical suburban home was worth $206 per square foot during the four weeks ending Sept. 25, just above the typical urban home which was worth $205 per square foot, according to Redfin
by Ben Verde Oct 18
Opendoor, Offerpad, Redfin shares hit all-time lows on Wall Street
Shares in Opendoor, Offerpad and Redfin all just hit all-time low prices. The milestones come after months of declines for companies across the real estate space
by Jim Dalrymple II Oct 7
Two men exchanging business cards
Calling it a 'kickback scheme,' HomeOpenly owner Dmitry Shkipin told the FHFA to ban referral fees charged by online brokerages — including Zillow — that don't actually buy and sell property
Redfin adds down payment assistance feature to website
Starting Thursday, homebuyers can scout down payment assistance programs on Redfin listings, thanks to the brokerage's new partnership with Down Payment Resource
by Marian McPherson Oct 6
Markets in the Midwest, East Coast are weathering headwinds the best
New Redfin report finds markets in the Midwest and East Coast are weathering the market slowdown better than anywhere else. Chicago, Milwaukee and Albany, New York, top the list.
by Taylor Anderson Sep 27
Homebuyers/sellers wanting to live in legal abortion states spikes to 19%
As states' laws on subjects like abortion rights and gender-affirming care for children have changed in the last year, consumers take a harder stance this year on where they consider living
by Lillian Dickerson Sep 27
With rent high and sales slow, more owners are becoming landlords
The slowdown in home sales, paired with the meteoric rise in rent, has more homeowners looking to become landlords rather than sell their homes in this market
by Taylor Anderson Sep 27
Homebuyers in these US cities are backing out of deals at a higher rate
Phoenix, Las Vegas, Tampa and Austin attracted homebuyers at a higher rate during the height of the pandemic. But according to Redfin, those same Sun Belt cities are now cooling the fastest
by Ben Verde Sep 26
Bidding wars fall to lowest level of pandemic as mortgage rates inch up
Only 44.6 percent of offers written by Redfin agents in August faced competition, the lowest rate since April of 2020, according to new data released Friday
by Ben Verde Sep 23
A new normal, or a ‘new weird’? Home prices climb despite 6% rates
As mortgage rates rose in recent weeks, so did home prices and purchase-loan applications. It's a strange time, a Redfin economist says
by Daniel Houston Sep 22
Redfin launches in Hilton Head, South Carolina
In addition to its market expansion, the Seattle-headquartered brokerage also announced that its listing search coverage now encompasses 95% of the US population
by Lillian Dickerson Sep 22
Luxury home sales plunge to 10-year low, surpassing COVID levels
Luxury home sales in the US dove by 28.1% year over year during the 3 months ending Aug. 31, 2022 — eclipsing the 23.2% drop in luxury sales at the height of the pandemic, Redfin data shows
by Lillian Dickerson Sep 22
Adiós America! Far Homes' $2.25M seed funding helps buy abroad
'Their business will benefit their customers, colleagues and communities, not just themselves and their other shareholders,' said Redfin CEO Glenn Kelman
by Craig C. Rowe Sep 21
This is the 'fastest-slowing' housing market in the US, new data shows
The slowdown in housing has been 'fastest slowing' on the West Coast, where prices in some markets have already fallen by 2 percent since July, according to a new analysis by Redfin
by Daniel Houston Sep 21
Once on top of world, homesellers are slowly losing their edge: Study
The 4 week period ending on Sept. 11 boasted a 2.9-month supply of homes on the market, up from a supply of just 1 month during the same period a year ago, according to data from Redfin
by Ben Verde Sep 16
Cash still king as nearly a third of homebuyers spurn costly mortgages 
All-cash home purchases in the US hit 31.4% of all transactions in July 2022, just short of an 8-year high reached in February 2022, according to new data released Friday by Redfin
by Lillian Dickerson Sep 16
Real estate companies dip as stock market tallies worst day in 2 years
Real estate stocks fell on Wall Street, too — though even before the carnage they were hovering near all-time lows
by Jim Dalrymple II Sep 13
After Redfin offered flood-risk tool, buyers took heed
A new study suggests that buyers who viewed homes in high-risk flood areas ended up turning to higher ground with their eventual offers when presented with the brokerage’s flooding data
by Daniel Houston Sep 12
America's newest houses face a heightened risk of wildfire
More than half of the homes built since the start of 2020 are at an elevated risk of wildfire. Redfin's research team takes a look
by Daniel Houston Sep 9
Real estate stocks are getting absolutely destroyed right now
Multiple real estate companies are seeing share prices fall to all-time lows. If they can't turn around stock market performances, falling share prices could have profound impacts
by Jim Dalrymple II Sep 2
The average US home is now selling below its list price, Redfin says
The average list-to-sale ratio clocked in under 100% for the first time since March 2021 in August, according to new data released Thursday by Redfin
by Ben Verde Sep 2
Here's how Redfin's Glenn Kelman became a reality TV star
Kelman and other real estate 'tycoons' star in a 'Shark Tank'-inspired competition called 'Buy My House.' The show debuts Friday on Netflix
by Jim Dalrymple II Sep 2
Millennial and Gen Z renters are getting walloped by inflation: Study
Gen Z and millennial renters who took on a new lease in July have personal inflation rates of 11.6% year over year, according to a new analysis by Redfin released Thursday
by Ben Verde Sep 1
Buyers are leaning on contingencies to bail out of deals, Redfin CEO says
During his latest appearance on CNBC, Redfin CEO Glenn Kelman shared how buyers and sellers are locked in a battle of the wills as the market slowly shifts in buyers' favor
by Marian McPherson Sep 1
More people moving into drought-prone areas than out: Study
Roughly $17T worth of property analyzed for the study had experienced intense drought in August, up 42% from a year earlier when $12T worth of property had experienced it
by Ben Verde Aug 31
Get ready for 'real estate mogul' Glenn Kelman, reality TV star
The Redfin CEO joins Corcoran CEO Pamela Liebman and other industry professionals in a 'Shark Tank'-like real estate show called 'Buy My House' to debut in September on Netflix
by Jim Dalrymple II Aug 23
Falling list prices hit pandemic hot spots hardest, new Redfin study says
Nationally, more than 15% of homesellers dropped list prices in July across the 97 metro areas analyzed by Redfin, with Boise, Denver and Salt Lake City seeing the greatest share of cuts
by Lillian Dickerson Aug 23
Following 6-month slowdown, the home-sale boom may finally be over
Home sales were down 19% year over year in July, a sign the pandemic-era boom in housing demand may be in the rearview mirror, according to new data released Monday by Redfin
by Daniel Houston Aug 22
rental image
Redfin said it expects rental growth to continue to slow, but markets with strong job growth and limited new housing construction will likely continue to experience large rent increases
by Ben Verde Aug 19
New listings drop 12%, the largest decline in more than 2 years
'Buyers are backing off due to rising housing costs and sellers are holding back because they realize they won't get the bidding war they would have gotten six months ago,' said Taylor Marr
by Ben Verde Aug 12
Home offers facing competing bids have plunged over the past 6 months
Fewer homebuyers are facing even a single competing offer. And when buyers find themselves in bidding wars, the field is less crowded, according to a report from Redfin
by Daniel Houston Aug 12
Redfin's iBuyer expands into Florida, among the hottest US markets
RedfinNow is operational in the Orlando and Tampa areas as of this week and will launch in the Palm Beach and Miami areas later this month, with Florida marking its 16th state in 34 markets
by Ben Verde Aug 11
Great Reshuffling revived as record number of buyers chase new metros
A record-high 33.7% of homebuyers sought to move from 1 metropolitan area to another in July, up from 32.6% in the second quarter of 2022, according to a report from Redfin on Thursday
by Ben Verde Aug 11
WATCH: Redfin's Glenn Kelman attempts a dance on the ICLV stage
In addition to his performance, the Redfin CEO said on the Inman Connect stage that the market correction is more significant than is widely appreciated, especially in hot western metro areas
by Jim Dalrymple II Aug 10
Stalemate: Listings are lingering a little longer as housing market cools
The share of homes listed for 30 days or longer increased 12.5% in July compared to a year earlier, with 61.2% of homes now sitting on the market for a month or longer, according to Redfin
by Ben Verde Aug 9
Homebuyer activity shows pulse as mortgage rates dip below 5%
Redfin's Homebuyer Demand Index rose 7 points during the last week of July, while mortgage purchase applications rose for the first time in 5 weeks, according to new data released Monday
by Ben Verde Aug 8
In earnings twist, most real estate companies avoided the worst in Q2
Despite a quickly slowing market in the second quarter, many of the dozen or more real estate companies that posted earnings last week managed to turn a profit and stave off ruin
by Jim Dalrymple II Aug 8
Redfin's profits decline in Q2 despite uptick in revenue
Redfin reported $606.9M in second-quarter revenue, a 29% increase compared to the second quarter of 2021, in an earnings report released Thursday afternoon following the close of markets
by Daniel Houston AND Ben Verde Aug 4
Redfin CEO: Market correction is 'sharper', 'faster' than expected
Redfin CEO Glenn Kelman also said the flow of institutions into real estate has made housing more like the stock market, and that brokerages have to 'race to the top' or 'race to the bottom'
by Jim Dalrymple II Aug 3
A pivotal earning season is beginning. Here's what to know
Major companies share how much money they made as the real estate market veered south earlier this year and as Inman Connect unfolds, bringing these leaders together in Las Vegas
by Jim Dalrymple II Aug 1
Buyer interest creeps upward as mortgage rates inch down
Redfin's Homebuyer Demand Index increased 15 points since June 15, reversing 10 straight weeks of decreasing demand that started in mid-April
by Ben Verde Jul 29
'Overvalued' Western markets see biggest share of price reductions
Despite national growth in sale prices, these markets that saw spikes in popularity and price over the past 2 years are starting to see the most price reductions, data shows
by Ben Verde Jul 27
The 10 housing markets primed to pop during a recession
Florida and California are most at risk of experiencing a housing downturn during a recession, according to Redfin. Both states saw exorbitant growth during the pandemic-fueled buying rush
by Marian McPherson Jul 27
@properties CEO Thad Wong says he’s ‘looking forward to a downturn’
Ahead of Inman Connect Las Vegas, the leader of the Chicago-based brokerage said he's better positioned than Redfin and Compass to grow into a changing market
by Taylor Anderson Jul 21
Half of Redfin home offers now face no competing bids, new report says
In the month of June, just under 50% of home offers written by its agents faced competition on a seasonally-adjusted basis, the lowest rate in over 2 years, the brokerage reported Wednesday
by Daniel Houston Jul 20
Inflation is hitting migration hotspots hardest, new study says
Q2 Consumer price growth exceeded 10% year over year in Phoenix, Atlanta, Miami and Tampa — each of which had among the nation’s strongest net inflow of interest in moving
by Daniel Houston Jul 19
Record number of buyers looking to relocate to 'affordable' areas
A record-high number of homebuyers are prioritizing affordability as high home prices and mortgage rates limit their ability to buy homes
by Ben Verde Jul 18
The long-awaited recovery in home inventory is gaining steam
The fast-paced cycle of the typical US home sale has begun to slow, paving the way for a recovery of the nation's depleted home inventory
by Daniel Houston Jul 15
Are sellers aiming too high? Price cuts abound throughout the US
More sellers dropped their asking prices in June almost everywhere in the US. In some places, more than half of homes for sale saw a cut
by Daniel Houston Jul 14
Mike DelPrete: In cooling market, agents are in for a 'dogfight'
Real estate tech expert Mike DelPrete will share what companies are doing to emerge victorious amid uncertainty at Inman Connect Las Vegas next month
by Andrea V. Brambila Jul 12
Homebuyers are canceling deals at highest rate since start of COVID
About 60,000 home-purchase agreements were canceled in June 2022, or about 14.9% of all homes that went under contract throughout the month, according to a new report from Redfin
by Lillian Dickerson Jul 11
June jobs report reveals impact of layoffs on real estate industry
Fears of impending recession and a spate of prominent layoff announcements put only a moderate damper on real estate hiring last month, according to the US Bureau of Labor Statistics
by Daniel Houston Jul 8
Wary sellers back off asking prices in June housing slowdown
The typical asking price for a home on the market took a modest downward turn in late May and early June, a sign of a softening market
by Daniel Houston Jul 1
RentSpree calls on MLSs to include rentals, saying it would help agents
Company says the action would minimize delays for renters, increase efficiency of filling rentals, help agents earn commissions and build their pipelines and standardize the process over time
by Taylor Anderson Jun 28
Demand for vacation homes slips below pre-pandemic levels
Mortgage locks for second homes fell 4% from pre-pandemic levels in May as mortgage rates rose to nearly 6% and the housing market continued to cool, according to data issued Friday by Redfin
by Ben Verde Jun 24
Redfin-owned RentPath changes name to Rent., unveils new upgrades
Along with brand update, the online rental marketplace unveiled upgraded features for landlords, renters and property managers on Tuesday
by Taylor Anderson Jun 21
As layoffs continue, Inman revives Talent Pass for Connect New York
With job cuts in the real estate industry continuing, Inman is launching a Talent Pass to provide newly jobless real estate professionals free access to Inman Connect New York in January
by Inman Jun 21
The seller's iron grip loosens as bidding wars ease, price cuts rise
The slowing demand for homes is affecting the balance of power between buyers and sellers, according to 2 new reports from Redfin
by Daniel Houston Jun 17
Could mortgage rates fall? Agents react to biggest rate hike in 28 years
Reaction to rate hike was mixed on Wednesday as real estate agents noted what they saw as a clear signs of a ‘transitioning market.' Economists say mortgage rates could actually dip
by Taylor Anderson Jun 16
Share of investor sales activity rose to record high in Q1: Study
An analysis issued Wednesday by Redfin, however, also makes clear that the market shift has begun to impact investor sales, with the pace of buying slowing over the first 3 months of 2022
by Taylor Anderson Jun 15
Do layoffs at Compass and Redfin signal a looming real estate purge?
The ranks of the real estate industry have swelled over the past decade, but some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed
Redfin lays off 8% of employees as industry sheds staff
Redfin follows Compass as second major industry player to lay off hundreds of employees. The move is expected to impact over 500 Redfin employees in agent and support roles
by Taylor Anderson Jun 14
A woman managing a budget at a computer
Homebuyer budgets increased by 0.3 percent annually while prices tallied record gains, according to a new analysis by Redfin released Monday
by Ben Verde Jun 13
What does it mean when even the wealthiest step back from buying?
Luxury deals are down 18% year over year, and buyers are more cautious than they've been in years, a sign the market is continuing to normalize, according to agents and a new Redfin report
by Lillian Dickerson Jun 10
The shifting market will slow prices down — but won't stop them cold
The market is reaching a turning point in which price reductions are more common. But that doesn't mean homes can't still appreciate in value
by Jim Dalrymple II Jun 7
Buyers regaining some control as market shifts, supply grows: Redfin
The report, released Thursday, found more than one in five sellers dropped their asking price during May 2022, the highest rate since October 2019, as mortgage rates sit at over 5%
by Ben Verde Jun 3
From 'Better' to worse: Real estate companies making layoffs so far
While real estate industry layoffs largely began with companies that provide mortgages and mortgage-related services, everyone from Adwerx to Zumper has been impacted by the downturn
by Matt Carter Jun 3
Is it a housing bubble? Nearly 68% of housing markets are overvalued
Within the last year alone, home price growth, which has reached 20.6%, has become 4 times greater than income growth, which is a mere 4.8%
Home showings see unusual drop in April. Is it a blip or something else?
Showings were down nationwide in April, which is strange because April is typically when the housing market hits a high point, ShowingTime President Michael Lane said in a new report
by Jim Dalrymple II Jun 1
Market shifts, rate hikes and why real estate stocks can't get a break
As real estate enters what one observer called a 'Wile E. Coyote' moment, real estate companies’ share prices continue to struggle amid market uncertainty
by Jim Dalrymple II May 30
'Sellers are starting to freak out:' Redfin CEO sees market slowdown
During his latest CNBC appearance, Redfin CEO Glenn Kelman said rising mortgage rates, softening home price growth and changing buyer attitudes are all signs of an impending shift
by Marian McPherson May 27
List prices are finally starting to fall
Nearly 1 in 5 homesellers dropped their listing price during the 4-week period ending May 22, a high watermark unmatched since October 2019, according to a new report from Redfin
by Lillian Dickerson May 27
The shift has begun — but rate hikes won't be housing's Achilles' heel
Experts told Inman they expect home sales and price growth to slow down, but they don't think rising rates will knock everyone out of the market
by Jim Dalrymple II May 26
What's next after housing cools down? This economist has an idea
Mortgage rates are up, and demand for homes is edging down. Redfin Chief Economist Daryl Fairweather laid out a possible scenario of what the months ahead might look like at Connect
by Daniel Houston May 19
Is Microsoft gearing up to compete with Zillow for rental market share?
Company is hiring staffers in China for a ‘revolutionary’ real estate venture focused on improving the search for long-term rentals. Few other details are known
by Taylor Anderson May 19
Team of rivals: Zillow and Redfin partner to syndicate 3D Home tours
Listing agents using Zillow 3D Home tours no longer have to manually add their tours to Redfin. This is the second partnership between the 2 real estate search portal rivals since 2019
by Marian McPherson May 18
Competition declines for second straight month, report finds
Just 60.7% of home offers crafted by Redfin agents encountered competition in April — the lowest level since March 2021
by Ben Verde May 18
Buyers now snapping up homes in 15 days despite latest wave of rate hikes
Rising mortgage rates, booming home prices and scant inventory are pushing homebuyers to quicken their plans, according to Redfin's latest market report, released Friday
by Marian McPherson May 13
Brokerages push back on NAR ad campaign targeting 'competitors'
The trade group highlighted its own members — including Zillow, Compass, Redfin, Homie, Opendoor and Offerpad — among those whom it's competing with for consumer mindshare
by Andrea V. Brambila May 12
More sellers are dropping their prices, but buyers see little relief
15 percent of homesellers dropped their asking price during the four-week period ending May 1, compared to nine percent of sellers last year
by Ben Verde May 9
Redfin takes in nearly $600M in Q1 revenue as market share grows
Revenue, market share, web users and homes sold by RedfinNow all rose. But the company reported a $90.8M net loss in a Q1 earnings call on Thursday
by Taylor Anderson May 5
Redfin settles 'digital redlining' discrimination case
Redfin has reached a settlement with the National Fair Housing Alliance in its discrimination case after nearly 2 years. The brokerage will pay $4M along with making several policy changes
by Marian McPherson May 2
Redfin property search to shine under Constellation1 partnership
Property data does much more than allow for consumers to find available listings; it's behind a number of ancillary but critical brokerage and portal tools
by Craig C. Rowe Apr 26
Bidding wars dip for first time in 2022 — but competition still fierce
New data from Redfin shows the market in March was slightly less brutal than one month prior
by Jim Dalrymple II Apr 25
Gary Keller singled out as 'head of conspiracy' as federal commission lawsuit accelerates
As oral arguments began Monday in the Sitzer federal commission case, plaintiffs questioned the role of buyer agents, what a world without NAR's commission policy would look like, and why they believe Keller is leading an antitrust conspiracy
by Andrea V. Brambila Apr 19
Driven out by high costs, Americans are still relocating at a record pace
A record 32.3% of Redfin.com users nationwide sought to move to a new metropolitan area during the first quarter of 2021 as housing prices and mortgage rates continue to climb
by Ben Verde Apr 13
Power Buyer clients made 1 offer on average. Traditional buyers? 7
A new report from Power Buyer and iBuyer marketplace zavvie says that Power Buying 'could eventually become the norm,' citing its success in helping buyers quickly purchase a home
by Marian McPherson Apr 13
The iBuying lessons Jason Aleem is bringing to Redfin's sales team
After helping Redfin's iBuyer business navigate a period of change, Jason Aleem is now tasked with leading its sales team into the next era
by Daniel Houston Apr 13
It looks like the pandemic vacation-home boom is coming to an end
Demand for vacation homes dropped sharply in March — the second straight month a decline was recorded as mortgages ramped up above 5%, according to an analysis by Redfin on Monday
by Ben Verde Apr 11
Affordability, debt biggest obstacles to homeownership, renters lament
32% of renters surveyed in a poll conducted by Redfin say they rent because they can't afford to buy a home, while 45% said debt was the main factor keeping them from homeownership
by Ben Verde Apr 8
Redfin closes $137.8M acquisition of Bay Equity Home Loans
The deal to purchase the California-based national mortgage lender accelerates the brokerage's strategy to become a one-stop shop for buying, selling, renting and financing a home
by Matt Carter Apr 4
The condo recovery is underway — but houses remain hotter
Competition for condos has been fierce in the past year as buyers once again looked for homes nearer their cities' urban centers
by Daniel Houston Mar 29
RentPath rental listings go live on Redfin's real estate portal
For the first time, Redfin users will now be able to search the Seattle-based brokerage's online listing portal for homes and apartments for rent, it was announced Wednesday
by Daniel Houston Mar 24
Inman Connect New York
Are you ready to grow your real estate business? Connect with the smartest real estate pros and learn their secrets at ICNY
by Jodie Cordell Mar 22
rental image
Rent rose sharply, but it didn’t keep up with the rapid increase in the price of a monthly mortgage, according to a Redfin report released Monday
by Taylor Anderson Mar 21
Spring sprang early: 11th-hour tips to win the hottest season of the year
Due to a rush of activity this winter, agents didn't have time to pause and prepare for real estate's busiest season. Luckily, agents can still harness these 6 tips to position themselves for success
by Lillian Dickerson Mar 18
'A spigot turned on full-blast': Ahead of spring, agents scramble for help
Brokers and team leaders told Inman they've been racing to hire support staff in preparation for real estate's busiest season of the year — but finding good help hasn't been easy, they say
by Lillian Dickerson Mar 18
COVID caused a 'Great Reshuffling.' Soaring costs are behind a new wave
With priced-out buyers seeking to relocate this spring, real estate agents stressed the importance of referral networks as the latest migration wave comes on the heels of an overheated market
by Taylor Anderson Mar 17
Second-home market hit hard as demand jumps for primary homes
As mortgage rates inched higher, demand for second homes dropped precipitously in February, hitting its lowest level in nearly two years, according to data released Tuesday from Redfin
by Lillian Dickerson Mar 15
Cash buyers 4 times more likely to win bidding wars, new study finds
Homebuyers who offered cash were a whopping 334% more likely to win a bidding war than those who chose to finance their purchase, according to a report from Redfin released Monday
by Ben Verde Mar 14
1 out of every 12 homes in the United States is now valued at $1M or more
The figure represents approximately 6 million American homes that hit the $1 million mark in February, according to data released Wednesday by Redfin
by Ben Verde Mar 9
Prices surged in February amid ‘extreme shortage of homes’
The median home-sale price rose to an all-time high of $363,975 in February, and Russia’s war on Ukraine is partially to blame, a new Redfin report says
by Taylor Anderson Mar 4
Offerpad expands California reach with Sacramento entry
The iBuyer’s newest market comes just two weeks after its first launch in the Golden State, where it is avoiding costlier coastal cities
by Taylor Anderson Mar 3
IBuyers purchased over 70K homes in 2021, doubling previous record
'IBuyers purchased 70,402 homes in 2021, more than double the previous annual high of 32,726 homes in 2019,' according to Zillow's Q4 iBuyer report
by Taylor Anderson Mar 2
Americans relocated in droves last year. But overall they're staying put
In 2021, the typical American homeowner stayed in his or her home for 13.2 years, in part due to the ongoing inventory shortage, according to data released Wednesday by Redfin
by Ben Verde Mar 2
'We're not the pocket listing guys anymore': The PLS is now The NLS
The National Listing Service wants to help agents compete with big portals such as Zillow, Realtor.com and Redfin for control of their lead generation
by Andrea V. Brambila Feb 24
More bidding wars arose in January than any other time during COVID
70% of home offers handled by Redfin agents faced bidding wars, up from 67.1% in December 2021 and 60% in January 2021, the highest rate since Redfin began tracking the data in April 2020
by Ben Verde Feb 23
Families aren't only buyers feeling heat from Wall Street investors
Smaller real estate investors are also feeling the impact of a new wave of institutional investors into markets across the country, economists and investors told Inman in the wake of new data
by Taylor Anderson Feb 22
How real estate agents can work with RedfinNow
Redfin's iBuyer, RedfinNow, forgoes incentives for agents but offers a dedicated customer service team and local title options. Here’s how to get started
by Daniel Houston Feb 22
Fast & Furious: Homes flying off the market in record time, data reveals
57% of homes that went under contract during the four week period ending Feb. 13 did so within just 2 weeks of being listed — an increase of 6% from a year ago, according to new Redfin data
by Ben Verde Feb 18
News Quiz: Do you know the biggest stories for the week of Feb. 13?
Compass, Realogy and Redfin all posted earnings reports this week. Test your knowledge of the biggest stories — and quarterly wins and losses — to see if you're up to date on the industry
by Inman Feb 18
Redfin revenue soars 163%, even as losses return in Q4
The company's plan to broaden its revenue sources made progress, with title, mortgage and iBuying offerings on track to generate profits, CEO Glenn Kelman said
by Jim Dalrymple II Feb 17
Redfin CEO: 'We probably waited too long to build a national brand'
During Inman Connect Now, Redfin CEO Glenn Kelman also noted that there is pressure on agent commissions right now, and expressed support for the MLS system
by Jim Dalrymple II Feb 17
How real estate agents can work with Opendoor
Some agents use the iBuying leader as a tool to help clients find the best path for their needs. Here’s how to get started
by Taylor Anderson Feb 14
Demand for vacation homes now outpacing primary homes: Redfin
Vacation-home demand is the highest it's been in a year and just below a record 90% gain in demand tallied in September 2020, according to data released Thursday by Redfin
by Lillian Dickerson Feb 10
On Google, 'real estate agent' is the job most Americans really want
In 2021, the most popular 'how to become' search on Google was for 'real estate agent,' strongly suggesting a tidal wave of new agents may soon be coming to a housing market near you
Share of homes available to buyers is falling fast as mortgage rate climbs
If mortgage rates rise to 3.9% by the end of 2022, homes valued above $383,000 would fall out of reach for the typical American couple on a $2K monthly mortgage budget, according to Redfin
by Ben Verde Feb 9
Out-of-towners are causing home prices to soar in relocation hotspots
Prices are up as high as 30% in some relocation hotspots across the Sun Belt, where 9 of the 10 most popular US relocation destinations are, according to a report from Redfin released Monday
by Ben Verde Feb 7
How real estate agents can work with Offerpad
For agents looking to enter the iBuyer market or merely up their iBuyer game, Offerpad is but one choice for a partner. Here's what agents who want to work with the iBuyer should know
Last year's stimulus could still be fueling this year's home purchases
Nearly 1 in 4 people planning to buy a home in the next 12 months set aside stimulus money for the transaction, a Redfin survey shows
by Daniel Houston Feb 4
Buyer agent commissions fall to lowest point since 2017
Intense competition appears to have driven down average buyers' agent commissions last fall to their lowest point since at least 2017
by Jim Dalrymple II Feb 3
Austin housing market’s value grew twice as fast as US in 2021
The total value of homes in Austin grew nearly 40% in 2021, while home values across the United States grew by about 19%. Cape Coral trailed Austin with a 36.9% surge in home values
by Ben Verde Feb 3
Forget what Punxsutawney Phil says: Spring already here for buyers
Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists who spoke to Inman. 'Home shopping season appears to already be in full swing!'
by Ben Verde Feb 2
When will it be a buyer's market? Hold that thought, experts warn
Even with rising rates, record high prices and an increase in new home construction, the seller’s market isn’t set to end soon, economists and housing experts told Inman
by Taylor Anderson Feb 2
How to make sense of iBuying in 2022, post-Zillow
IBuying has existed for years, but it's growing faster than ever and now approaching the scale that could finally make it profitable
by Jim Dalrymple II Feb 2
Share of newly constructed homes on market reaches all-time high
A report from Redfin found that 34.1 percent of homes on the market in the last month of 2021 were new construction, compared to just 25.4 percent the year prior
by Ben Verde Jan 31