Redfin announced Friday it’s returning to buying homes through RedfinNow, its iBuyer arm, in four more markets.
As of Friday, the company is now buying homes in Dallas, San Antonio, Los Angeles and Orange County, in addition to the previously announced Austin, Denver and the Inland Empire in California.
Quinn Hawkins | Photo credit: Redfin
“Redfin’s home buying demand has been on the rise since mid-April and is now more than 30 percent higher than pre-pandemic levels,” Quinn Hawkins, head of RedfinNow. said in a statement. “While the market continues to recover, many homeowners remain wary of hosting showings and open houses for buyers and their agents, not to mention the visits from vendors who might be needed to get their home ready to sell.
Redfin initially suspended its homebuying program in mid-March at the height of the COVID-19-fueled stay-at-home orders. At the time, CEO Glenn Kelman cited the difficulty of pricing homes in the uncertain market.
Redfin was the first to announce the suspension of homebuying and was quickly followed by Zillow Offers, Opendoor and Offerpad, it’s top competitors in the iBuying space.
On May 7, during the company’s first-quarter earnings call, Kelman announced a resumption to buying in Austin, Denver and the Inland Empire in California.
The company is also making an effort to ease the buying and selling process in a COVID-19-impacted world, where consumers are looking for a socially-distanced experience.
Redfin allows buyers to tour RedfinNow-owned homes without having to contact an agent, using the Redfin app, seven days a week, from 8 a.m. to 8 p.m. The company also ensures that each RedfinNow listing has a 3D walkthrough that buyers can explore online.
“With RedfinNow, sellers can skip the prep and sell their home with limited in-person interaction,” Hawkins said. “Additionally, in an increasingly competitive market, RedfinNow is a popular solution for homebuyers who need to sell their old home prior to moving.
“We’re pleased to once again bring this convenient selling option to more Redfin customers.”