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
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
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
'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
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 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
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 will still classify agents as employees but, beginning next year, will transition those in some California markets to an all-commission-based pay program
Homebuyers are backing away from the market as mortgage rates continue to climb. But new listings aren't declining as quickly, Redfin reports
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
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
Redfin survey reveals LGBTQ+ consumers disproportionately struggle with lack of family support during homebuying due to heteronormative expectations for marriage and household formation
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
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
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
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
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
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
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
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
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
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
Some 12.3% of San Francisco homesellers who sold their homes during the 3-month period ending July 31 lost money on the sale
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
'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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Early-pandemic migration trends are still impacting market growth, with pandemic boomtowns' home price growth still outpacing historically expensive coastal markets
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
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
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
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
The competing companies' plugins will allow users to employ conversational language as they search for home listings
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
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
‘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.’
Investor profits are falling, and the number of investors losing money reached the highest point since 2016, according to a new report from Redfin
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
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
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
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
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
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
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
The recent market shift has been a 'great equalizer,' accentuating the differences among brokerage models and the importance of agent count
In its inaugural sustainability report on Wednesday, Redfin shared its efforts to improve housing access, equity and sustainability alongside corporate diversity and inclusion
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
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
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
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
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
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
The median US home sale price declined marginally between February 2022 and 2023, clocking in at $350,426, according to new data released Thursday
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
Opinion
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
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
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
In its latest real estate market report, Redfin said the total market value for US homes dropped $2.3T from June to December 2022 — the largest 6-month drop since the Great Recession
Redfin Premier services will now be available to homebuyers across 28 markets. The brokerage also announced new designs for its Redfin Premier Agent profiles and listings
Consumer Federation of America: Despite an NAR rule change, only Redfin displays buyer-agent compensation in virtually all of the major cities examined
The portal and online brokerage saw revenue fall 25% year over year during the fourth quarter of 2022, and lost a total of $61.9M, according to an earnings call Thursday afternoon
The Canadian Real Estate Association, which owns and controls Canada's most popular listing site, is spinning it off into a tech startup. Ex-CREA Chair Cliff Stevenson shared what's in store
Large publicly traded real estate companies are about to share their numbers from the most brutal quarter in years. Analysts are bracing for the worst — and watching to see who can thrive
Redfin Chief Economist Daryl Fairweather reveals to Intel the top data point signaling a coming rebound and shares why inflation and mortgage rates will continue to lead the market this spring
This week, the Redfin Homebuyer Demand Index, the brokerage's in-house gauge of buyer activity, hit its highest level since September, rising 21% from an October low, new data shows
Gen Zers and millennials who signed new leases in December saw their cost of goods and services increase 5.6% and 6.1%, respectively, according to a new report by Redfin
Things are looking up for homebuyers on a budget as mortgage rates fall from their 20-year highs, according to a report published Thursday by Redfin
All across the country, real estate agents are posting positive signs of change from the trenches and revealing they're suddenly dealing with packed open houses and intensifying bidding wars
Redfin CEO Glenn Kelman acknowledged on Wednesday that, 'Not all the people who go into real estate are William Shakespeare' during a wide-ranging discussion on the rise of AI and ChatGPT
Redfin's new website and app feature will allow homebuyers and renters to save their favorite properties in customized lists and share them with their home search partner to stay organized
In a positive sign for the real estate industry — and the spring homebuying season — pending home sales rose in December for the first time since May 2022, increasing 2.5% from November
In a session called 'Your Inside Look Into the 2023 Housing Market,' panelists at Inman Connect New York said real estate companies and consumers are 'adjusting to the new reality'
According to a new report, 24.6% of Redfin users were looking to move inspired by high housing costs in most major cities and the freedoms provided by remote work
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
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
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
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
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
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
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
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
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
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
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
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
Home sales posted their biggest annual decline since Redfin started tracking the metric in 2012
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
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
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
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