Brokerages, tech companies and mortgage providers all saw massive losses as the market soured at the end of 2022. But some leaders did have a few tricks up their sleeves. Continue reading
The portal and online brokerage saw revenue fall 25 percent year over year during the fourth quarter of 2022, and lost a total of $61.9 million, according to an earnings call Thursday afternoon. Continue reading
Redfin’s CEO 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. Continue reading
For years, real estate professionals have looked to millennials to push the housing market forward as previous generations slow their homebuying and homeselling activities. However, several obstacles — overwhelming student loan debt, stagnant wage grow… Continue reading
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. Continue reading
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. Continue reading
The company earned $600.5 million in revenue during the third quarter, but also lost $90.2 million — up from a loss of just $18.9 million in the third quarter of 2021 — amid a worsening housing market. Continue reading
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. Continue reading
Many of the industry’s big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market. Continue reading
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. Continue reading