RDFN News

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)--Declining mortgage rates are one factor pushing the median U.S. monthly mortgage payment down to $2,604, more than $200 below May’s all-time high. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. The daily average mortgage rate declined to an 11-month low of 6.28% this week, upping homebuyers’ purchasing power by more than $20,000 since mid-summer. But home-sale prices are still rising: The median sale price was roughly $393,00

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)--Declining mortgage rates have pushed the median U.S. monthly housing payment down to $2,593, the lowest level since January, according to a new report from Redfin, the real estate brokerage powered by Rocket. The weekly average mortgage rate has ticked down to 6.56%, the lowest level in nearly a year. Lower monthly payments are leading to a modest uptick in home sales. Pending home sales rose 1.6% from a year earlier, in line with the increases Redfin has seen over the

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)--The number of homeowner households in America fell 0.1% year over year to an estimated 86.2 million in the second quarter, according to a new report from Redfin, the real estate brokerage powered by Rocket. While that’s a marginal decline, it’s the first since 2016. By comparison, the number of renter households rose 2.6% to an estimated 46.4 million—one of the largest increases in recent years. This is based on a Redfin analysis of U.S. Census Bureau data. A renter ho

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)-- #housingmarket--The number of homes sold in seasonal towns, those where vacation demand drives the housing market, fell 3% year over year in July, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s compared to a 1% decline in non-seasonal towns. In seasonal towns, home sales have been declining on a year-over-year basis since February. For its report, Redfin analyzed housing-market data in seasonal towns versus non-seasonal towns, with seasonal

(NASDAQ:RDFN) SEATTLE--(BUSINESS WIRE)-- #housingmarket--The total number of homes for sale in Las Vegas rose 31% year over year in July, the biggest increase of any major U.S. metro area and roughly triple the national increase. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. That marks a year straight of 20%-plus inventory increases for Las Vegas. Supply is piling up in Las Vegas because would-be homebuyers are sitting on the sidelines. Pending home sales fell 8.6% year over year

SEATTLE--(BUSINESS WIRE)--Falling mortgage rates have pushed the median U.S. monthly mortgage payment down to $2,616, its lowest level since the start of the year, according to a new report from Redfin, the real estate brokerage powered by Rocket. The weekly average mortgage rate is sitting at 6.58%, its lowest level in 10 months. Lower housing costs are bringing some house hunters off the sidelines. Pending home sales rose 1.6% year over year during the four weeks ending August 27. That marks

SEATTLE--(BUSINESS WIRE)--The gap between 10-year treasury yields and mortgage rates (known as the mortgage spread) has dropped to its lowest level in over three years, allowing mortgage rates to fall more than treasury yields. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. The spread was 2.26 percentage points as of August 22, down from about 2.5 at the start of summer and 2.68 a year earlier. That’s good news for house hunters and homeowners looking

SEATTLE--(BUSINESS WIRE)--The typical homebuyer’s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May’s all-time high, according to a new report from Redfin, the real estate brokerage powered by Rocket. Housing payments are falling mainly because mortgage rates are falling. The weekly average mortgage rate dropped to a 10-month low of 6.58% last week in the wake of a weak July jobs report and a neutral inflation report. It’s worth noting that another reason

SEATTLE--(BUSINESS WIRE)--The typical home that went under contract in July was on the market for 43 days. That’s up from 35 days a year earlier and is the longest span for any July since 2015, according to a new report from Redfin, the real estate brokerage powered by Rocket. Homes are taking longer to sell because demand is shrinking due to high homebuying costs and economic uncertainty. Pending home sales fell 1.1% month over month in July to the lowest seasonally-adjusted level since Novemb

SEATTLE--(BUSINESS WIRE)-- #housingmarket--The median U.S. asking rent rose 1.7% ($30) year over year to $1,790 in July—the largest increase since January 2023. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. July marked the second-consecutive year-over-year increase (the median asking rent rose 0.4% in June) following over two years of declining or flat rents. The median asking rent climbed 0.8% on a month-over-month basis in July. “Asking rents may be climbing becaus

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — One-third (33.5%) of baby boomers who own their home say they’ll never sell, according to a new survey commissioned by Redfin (www.redfin.com), the technology-powered real estate brokerage. Another 30% say they’ll sell their home at some point, but not within the next decade. Older people are even less likely to sell, with nearly half (44.6%) of Silent Generation members never planning to sell. Younger homeowners are more likely to eventually part ways

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Redfin, the technology-powered real estate company and Thumbtack, a technology company helping millions of people confidently care for their homes, are partnering to help homeowners find and hire the right professionals for their home projects. Homeowners can now browse popular services, connect with trusted pros, read reviews from past customers, and get cost estimates—all by simply claiming their home on Redfin and visiting their Owner Dashboard. Thi

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) —The typical U.S. homebuyer’s down payment is $62,468, down by roughly 1% year over year, the first annual decline in nearly two years. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Redfin’s report is based on its analysis of county records across 40 of the most populous U.S. metropolitan areas. April 2025 is the most recent month for which data is available. In percentage terms, the typical U.S.

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Over half of U.S. homeowners and renters (51.2%) strongly or somewhat agree with the following statement: “Less immigration will result in fewer construction workers, and thereby fewer new homes, making homes more expensive.” That’s according to a new survey commissioned by Redfin (www.redfin.com), the technology-powered real estate brokerage. But much of the nation holds the opposite view; 38.5% of homeowners and renters strongly or somewhat agree wit

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Over half of U.S. homeowners and renters (51.2%) strongly or somewhat agree with the following statement: “Less immigration will result in fewer construction workers, and thereby fewer new homes, making homes more expensive.” That’s according to a new survey commissioned by Redfin (www.redfin.com), the technology-powered real estate brokerage. But much of the nation holds the opposite view; 38.5% of homeowners and renters strongly or somewhat agree wit

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Just over 28% of U.S. homes are selling above the asking price, down from 32% a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the lowest level for this time of year since 2020, when the start of the pandemic ground the housing market to a halt. That’s one signal of the shift toward a buyer’s market in much of the country. For the sake of comparison, more than half (53%) of homes s

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Just over 28% of U.S. homes are selling above the asking price, down from 32% a year earlier, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s the lowest level for this time of year since 2020, when the start of the pandemic ground the housing market to a halt. That’s one signal of the shift toward a buyer’s market in much of the country. For the sake of comparison, more than half (53%) of homes s

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The typical luxury home costs less than $1 million in seven of the top 50 most populous metros, down from 30 metros just five years ago. This is according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The most affordable metro for buying a high-end property is Detroit, where the median price for a luxury home was $753,851 in April—44.1% less than the typical luxury home nationwide. That’s according to an analys

While Redfin has strugged under a poor housing environment, the subsequent value compression sets up a contrarian trade in RDFN stock.

Home sales fell sharply in March and weekly mortgage applications plunged as high interest rates and economic uncertainty stifled demand as the spring home-buying season got underway.

Rents remained relatively stable last month. However, economists warned Trump's tariffs could put upward pressure on the rental market.

Redfin stock is trading approximately 12% below the Rocket's offer price. Meanwhile, Zillow must compete with "well-capitalized competitors."

Rocket Companies announces it will acquire Redfin in a $1.75 billion deal to bring homebuyers an end-to-end, online real estate solution from browsing listings to securing a mortgage.

Redfin shareholders will receive 0.7926 shares of Rocket Class A common stock for each Redfin share—a 63% premium.

Homebuyers received some good news this week: Mortgage rates declined for a fifth week to their lowest level since last year and the median U.S. home-sale price rose by the smallest increase since last September.