RDFN Stock Recent News

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The typical buyer's housing payment was $2,588 during the four weeks ending August 11, nearly $250 below April's all-time high and up just 1% year over year–the smallest increase in five years. That's according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. There are also a few other encouraging signs for today's buyers: The total number of homes for sale is up nearly 20% year over year, and a growing share of i.

He really said that: When asked about the company's “Plan B” if mortgage rates don't fall, Redfin CEO Glenn Kelman responded, “Plan B is to drink our own urine or our competitors' blood, stay in the foxhole.”

Shares of Redfin continued to decline after posting disappointing Q2 results. The company expects its real estate division to see revenue shrink in the single digits in Q3. New rules for the U.S. real estate industry will take effect in August, which are likely to reduce overall commissions as well as buy-side work for Redfin.

Redfin Corporation (NASDAQ:RDFN ) Q2 2024 Earnings Conference Call August 6, 2024 4:30 PM ET Company Participants Meg Nunnally - Head of Investor Relations Glenn Kelman - Chief Executive Officer Chris Nielsen - Chief Financial Officer Conference Call Participants Jason Helfstein - Oppenheimer Ryan McKeveny - Zelman & Associates Ygal Arounian - Citigroup John Campbell - Stephens Inc. Curtis Nagle - Bank of America Jay McCanless - Wedbush Operator Good day, ladies and gentlemen and welcome to the Redfin Corporation Second Quarter 2024 Earnings Conference Call. Our host for today's call is Meg Nunnally, Head of Investor Relations.

Although the revenue and EPS for Redfin (RDFN) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Redfin (RDFN) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to loss of $0.25 per share a year ago.

Redfin CEO Glenn Kelman pulled the curtain back on the U.S.'s 'somewhat slow' real estate market during an appearance on 'Cavuto: Coast to Coast.'

Redfin (RDFN) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--(NASDAQ: RDFN) — The typical U.S. homebuyer's monthly housing payment was $2,722 during the four weeks ending July 14, $115 lower than April's all-time high, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That's despite home prices sitting just about $100 shy of last week's record high. Daily average mortgage rates have dropped to their lowest level since February after last week's cooler-than-expected inflation report.

Wall Street predicts the Federal Reserve will lower interest rates three times before the end of 2024. That expectation has driven a surge in shares of real estate technology company Redfin this month.