“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.”
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Investor profits are falling, and the number of investors losing money reached the highest point since 2016, according to a new report from Redfin. Continue reading
Pandemic-era boomtowns and tech hubs fueled an annualized 3.3 percent drop, to $400,528, according to new data. “There’s this fear that everything will crash,” reports one Redfin agent in Boise, Idaho. Continue reading
In total, the company cut 560 positions, according to a statement Opendoor provided to Inman. The cuts, which were announced internally Tuesday morning, primarily focused on operations roles. Continue reading
The partnership will allow the brokerage to create refined websites that are high-performing and data-rich and include customizations specific to the Engel & Völkers platform. Continue reading
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. Continue reading
The brokerage said the employees impacted by the latest round of layoffs were mostly in the real estate support department, but some executive were also let go. Continue reading
IBuyers like Opendoor and Offerpad once appeared poised to be an essential player in the nation’s biggest housing markets. Now, real estate agents say their role has diminished dramatically. Continue reading
New listings plunged 21.8 percent from a year ago, marking one of the most significant annual drops since the beginning of the pandemic, according to a new analysis of housing inventory by Redfin. Continue reading
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. Continue reading