Redfin to cut 450 roles following Zillow rentals deal
The company, which signed an exclusive listings partnership with Zillow on Feb. 11, will complete the layoffs in July as it restructures its rentals segment.
February 12, 2025
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- ‘Super app’ success helped Zillow outperform the market in 2024The home search giant beat revenue expectations in Q4 as it continued to make big strides in mortgages and rentals, and announced a new partnership with Redfin.February 11, 2025
- 15 more commissions settlements on track for final approvalSeveral smaller brokerages and two MLSs named in the Keel and Gibson cases are scheduled for a final hearing on June 24.February 11, 2025
- Tariffs, home construction and affordabilityThe price of building materials could rise by an additional 4-6% in the next 12 months, or 10% overall, according to a new report from CoreLogic.February 10, 2025
- Gibson plaintiffs clap back at eXp, WeichertThe arguments over reverse auction allegations continued this week, with the plaintiffs saying the brokerages shopped around to “settle on the cheap.”February 7, 2025
- Rate cuts this spring? Unlikely, given new jobs dataThe latest employment report was mixed, but stronger wage growth means rate cuts will probably remain paused through the spring homebuying season.February 7, 2025
- Mortgage rates dip, but demand still weakRates appear to have stabilized in the upper-6% range, while an increase in new listings points to an early rise in inventory ahead of the spring season.February 6, 2025
- eXp pushes back on ‘sweetheart deal’ allegationsThe brokerage denied using a reverse auction strategy to reach its $34 million settlement, arguing that the amount is comparable to what other firms paid.February 5, 2025
- Commissions rebound following post-settlement declineTwo recent studies found that real estate agent commission rates fell after industry practice changes took effect, but they have largely recovered.February 5, 2025
- Tariff pause with Canada, Mexico welcomed by buildersThe 25% tariffs were expected to increase the cost of home construction materials. Set to take effect on Feb. 4, they have now been paused for 30 days.February 4, 2025
- CFPB freezes activity after acting director takes helmU.S. Department of Treasury Secretary Scott Bessent puts the brakes on rule-making and enforcement as the Consumer Financial Protection Bureau faces defunding.February 3, 2025
- New lawsuit sweeps up 8 brokerages and MLSsThe companies were among the remaining entities not covered by NAR’s deal. They quickly agreed to settle, paying more than $10.5 million in combined damages.January 28, 2025
- 2 brokerages seek settlement approval; Nosalek hearing scheduledBaird & Warner and Real Estate One will add another $3.7 million to the fund, while the MLS PIN case moves forward after an extended pause.January 27, 2025
- New telemarketing rules on hold after appeals court rulingLess stringent requirements for consumer contact will stay in place for a year, the FCC says, as it delays TCPA changes mandating one-to-one consent.January 27, 2025
- A strong finish for new home sales in DecemberSales were up at the end of 2024, and for the full year, increased by 2.5% over 2023 — in contrast to existing home sales, which fell short of 2023 numbers.January 27, 2025
- Late-year gains fail to push home sales above 2023 levelsDespite an uptick in December, existing home sales ended the year at just over 4 million, the lowest rate since 1995.January 24, 2025
- Easing rents could mean fewer buyers this springWith affordability improving for apartment dwellers — and mortgage rates and home prices still high — renters may continue to delay home purchases.January 23, 2025
- Mortgage rates dip for the first time in 6 weeksThe 30-year fixed rate averaged just under 7% this week, according to Freddie Mac, but some economists are already revising their 2025 forecasts upward.January 23, 2025
- KW's Mark Willis trades CEO role for new leadership positionAfter 14 months at the helm, Willis is moving into a new C-level role focused on teaching and developing leaders within the company.January 22, 2025
- Trump ‘relief’ order short on specifics, but builders are hopefulA Jan. 20 memo targeting cost-of-living and housing issues includes regulatory cuts — a win for builders — but inflation and labor shortages could boost prices.January 21, 2025
