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The Latest Breaking News from Redfin

LOCALIZE IT: Mortgage rates up, applications down across US

EDITORS/NEWS DIRECTORS:

The Independent UK

Here's what Southern California's housing market cooldown means for buyers, sellers

The Southern California housing market is finally slowing down after a two-year pandemic boom fueled in large part by record low borrowing costs.

Los Angeles Times

Housing market chills as mortgage rates, prices scare buyers

Rising mortgage rates have combined with already high home prices to discourage would-be buyers

The Independent UK

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5 Real Estate Stocks to Sell Short Due to Higher Interest Rates

The demand for real estate has taken a hit amid rising interest rates and a faster-than-expected rise in mortgage rates. Higher home prices and the lack of listings have also affected the industry. Given this backdrop, fundamentally weak real estate stocks Redfin Corp. (RDFN), WeWork (WE), Alset EHome International (AEI),…

StockNews.com

Best Cities to Buy a Fixer-Upper Home

Whether you're struggling to find an affordable home, or flush with cash and looking to flip, these cities show the highest return on investment for buying and renovating a fixer home.

The Street

Homebuyers retake the upper hand in the cooling real estate market

This is a sign of how fast the housing market adjusted to the surge in mortgage rates that started in March.

Axios

Housing Market: Mountain of Woes Just Keeps Rising

Some 60,000 home-purchase agreements collapsed in June, equal to 14.9% of homes that went under contract.

The Street

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Homebuyers Are Backing Out Of Sales At Record Levels: Report

Homebuyers are backing out of property purchase deals at a level not seen since the beginning of the COVID-19 pandemic, according to data from Redfin (NASDAQ: RDFN).

Benzinga

Housing Beat: Mortgage Rates Fall Again, Home Price Growth Cools, Roe V. Wade Influences Homebuyers

This week in the housing world, mortgage rates declined for the second consecutive week as home price growth slowed, the level of mortgage delinquencies remained low and the Roe v. Wade controversy permeated the homebuying process.

Benzinga

Housing Beat: Mortgage Rates Creep Down, Inventory Expands And Who Wants A Vacation Home Anymore?

The U.S. housing market closed June with a decline in mortgage rates, a bump-up in pending home sales, a growing number of available properties for sale and an evaporating enthusiasm for vacation homes.

Benzinga

Job cuts are rolling in. Here's who is feeling the most pain so far

Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.

WEKU

America’s best places to live in 2022

While there has been some movement to the suburbs during the pandemic, major cities remain attractive places to live and work. If you’re reevaluating where you call home or considering relocating this year, here are Bankrate’s picks for the best places to live in 2022.

Tribune News Service

Airbnb Backlash Could Be a Boost for Hotels

Rising rents may be contributing to a social media backlash against the company.

The Street

Real Estate Companies Are Laying Off Staff Right And Left

Both Redfin and Compass announced that they would be making significant staff layoffs.

The Street

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Los Angeles Times

Home sellers are cutting list prices as more buyers take pause: 'The market is not the same'

Home sellers are increasingly cutting their asking prices as buyers, constrained by higher mortgage rates and overall inflation, have become less willing to jump into the housing market at any cost.

Tribune News Service

Redfin to lay off hundreds as housing market cools

The cooling housing market is catching up with Seattle's real estate tech companies.

The Independent UK

Cooling housing market prompts layoffs at Redfin

Redfin, the Seattle-based real estate brokerage, says it will lay off 8% of its employees as the housing market cools off

Axios

Redfin laying off 8% of its staff

"We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive."

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Benzinga

Housing Beat: Mortgage Rates Up Again, Homes With High Fire Risks Sell For More

This week in the housing market, mortgage rates resumed their upward movement, mortgage applications continued their downward movement and industry experts weighed in on the arrival of the next recession.

Axios

Revoking job offers is an increasingly common cost-cutting strategy

More leaders are seeing rescission as a feasible strategy,

Benzinga

Investors Are Buying Up More Than 25% Of The Available Homes In These Markets

Amongst the competitive real estate markets, it’s not just first-time home buyers or sellers looking to downsize or expand. A good chunk of the competition is investors.

Benzinga

Housing Beat: Mortgage Rates Flatten As Sun Belt Sees New Boom In Home Building

This week in the housing market, mortgage rates were mostly flat, mortgage application volume was down and the Sun Belt is shining with new single-family home construction.

The Street

You Won't Believe What People Are Doing to Sell Their Houses

Higher interest rates are finally forcing some home sellers to do something nearly unthinkable.

Axios

The real estate buying frenzy is over

"The market's shifted from irrational to more rational."

Benzinga

Peering Into Redfin's Recent Short Interest

Redfin's (NASDAQ:RDFN) short percent of float has risen 3.85% since its last report. The company recently reported that it has 13.62 million shares sold short, which is 13.23% of all regular shares that are available for trading.

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