Smaller real estate investors are also feeling the impact of a new wave of institutional investors into markets across the country, economists and investors told Inman in the wake of new data.
Redfin's iBuyer, RedfinNow, forgoes incentives for agents but offers a dedicated customer service team and local title options. Here’s how to get started.
Fifty-seven percent of homes that went under contract during the four week period ending Feb. 13 did so within just two weeks of being listed — an increase of 6 percent from a year ago, according to new Redfin data.
Compass, Realogy and Redfin all posted earnings reports this week. Test your knowledge of the biggest stories — and quarterly wins and losses — to see if you're up to date on the industry in February.
The company's revenue jumped between October and December, handily beating analysts' expectations. But Redfin also suffered a loss of $27 million, according to an earnings report Thursday.
During Inman Connect Now, Redfin CEO Glenn Kelman also noted that there is pressure on real estate agent commissions right now and expressed support for the MLS system.
Vacation-home demand is the highest it's been in a year and just below a record 90 percent gain in demand tallied in September 2020, according to data released Thursday by Redfin.
In 2021, the most popular "how to become" search on Google was for "real estate agent," strongly suggesting a tidal wave of new agents may soon be coming to a housing market near you.
If mortgage rates rise to 3.9 percent by the end of 2022, homes valued above $383,000 would fall out of reach for the typical American couple on a $2,000 monthly mortgage budget, according to Redfin.
Prices are up as high as 30 percent in some relocation hotspots across the Sun Belt, where nine of the 10 most popular U.S. relocation destinations are, according to a report from Redfin released Monday.
Nearly 1 in 4 people planning to buy a home in the next 12 months set aside stimulus money for the transaction, a Redfin survey shows.
Intense competition appears to have driven down average buyers' agent commissions last fall to their lowest point since at least 2017.