Redfin revenues down 25% but better than expected
CEO and founder Glenn Kelman said the company is continuing to cut expenses and looking to increase the number of online visitors who hire Redfin agents.
February 16, 2023
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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- Mortgage rates move in the wrong direction for would-be buyersInterest rates are up for the second week in a row, and signs point to further bumps. This could put a damper on the spring selling season.February 16, 2023
- Foreclosures creating ripples, but not wavesThe number of distressed properties remains well below pre-pandemic levels, thanks to a strong job market and federal moratoriums, but they're creeping up.February 16, 2023
- J. Lennox Scott is ready to grow: 'This is the start of the next 10-year cycle'Scott, chairman and CEO of John L. Scott Real Estate in the Pacific Northwest, said the market is poised to enter a new period of growth.February 16, 2023
- Zillow beats expectations with fourth quarter earnings resultsThe Seattle-based real estate giant reported revenue of $435 million, exceeding its estimate of $413 million.February 15, 2023
- Most new homes for sale are in an HOA — do buyers care?According to the U.S. Census, 82% of newly built homes sold in 2021 were a part of a homeowners association.February 15, 2023
- Realtor.com to amplify agent reviews through partnershipThe consumer portal is partnering with RateMyAgent, whose participating agents can boost their visibility to Realtor.com's 86 million monthly users.February 14, 2023
- For many NFL players, real estate is a career worth tacklingIn football, a competitive drive and strong work ethic are key to success. No wonder players turn to careers in real estate, which requires similar traits.February 10, 2023
- Mortgage rates up slightly following jobs report, Fed rate hikeVolatility may be the norm for the near future, but mortgage interest rates remain down significantly from their November peak.February 9, 2023
- 'Buy before you sell' gets easier with more lender optionsKnock has opened up its Home Swap program to allow any lender to participate.February 8, 2023
- Home appreciation slows to lowest level in more than 2 yearsCoreLogic’s latest home price index shows year-over-year home appreciation of 6.9%, the lowest rate since late summer of 2020.February 7, 2023
- eXp's Jason Gesing focused on connections, problem solvingIn his new role as Chief Industry Relations Officer, Gesing has an opportunity to build relationships outside of eXp and help support the industry as a whole.February 4, 2023
- Positive jobs report may mean prolonged inflation, high interest ratesWith the latest jobs numbers, the unemployment rate is at its lowest level in more than 50 years. It's good news for workers, but could spell more rate hikes.February 3, 2023
- Alternative buying and selling programs continue to growWhile iBuyers struggled, Power Buyers and presale renovation companies made big strides in 2022 as consumers looked for options in a challenging market.February 3, 2023
- Mortgage interest rates inch closer to 6%Compared to November's peak, today's rates could allow millions of additional buyers to afford a home.February 2, 2023
- Will your market favor buyers or sellers this year? Yes, no or maybeThe Knock Buyer-Seller Market Index forecasts that many markets will shift to neutral or buyers market territory by late summer or early fall.February 2, 2023
- Partnership based on 'total trust' fundamental to @properties successCo-CEOs Michael Golden and Thad Wong have worked together for 26 years, starting out as agents before building the Chicago-based brokerage.February 2, 2023
- Inventory is up, but the pace of sales remains slowThe latest monthly report from Realtor.com offers a familiar refrain: The market is sluggish, due in large part to affordability.February 2, 2023
- MLS-owned software company launches new scheduling toolUtahRealEstate.com, one of the largest MLSs in the West with more than 20,000 members, announced its new software product from MLS Aligned.January 30, 2023
- Sunshine state irresistible to buyers in 2022A new NAR analysis found that Florida led the way in population growth in 2022, with net migration far exceeding that of runner-up Texas.January 30, 2023
