Redfin Corp

NASDAQ:RDFNUnited States

Today

Show headlines and story abstract

• DJ Buying a U.S. Starter Home is Cheaper Than a Year Ago -- Market Talk, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: RDFN
  
  1029 ET - U.S. homebuyers need to earn $76,995 per year to afford the median priced starter home--$250,000--down 0.4% year over year, according to Redfin. That's the first annual decline since August 2020, when mortgage rates were nearing their record low. Starter-home prices are up 4.2% year over year, but the income needed to afford a starter home fell because mortgage rates dropped enough to offset the increase in prices. Still, the income needed to afford a starter home is only 3.6% below the record high of $79,857 hit last fall. Redfin says that a decade ago, a turnkey four-bedroom house in a nice neighborhood was often considered a starter home, but today, a small fixer-upper condo is often all a first-time homebuyer can afford. The typical household earns an estimated $83,853 per year, which is 8.9% more than they need to afford the median priced starter home. (chris.wack@wsj.com)
  

• DJ Number of U.S. Homes Changing Hands Hit Lowest Rate in Decades -- Market Talk, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: RDFN
  
  0956 ET - Just 25 out of every 1,000 U.S. homes changed hands in the first eight months of 2024, the lowest turnover rate in decades, according to Redfin. There were 37.5% fewer homes sold this year than during the middle of the pandemic buying frenzy in 2021--40 of every 1,000--and 31% fewer homes sold than during the last pre-pandemic year in 2019--36 of every 1,000. Homes are changing hands at historically low rates for a number of interconnected reasons, including elevated mortgage rates; rising prices and low supply; and economic and political uncertainty. The rate of homes being listed for sale also fell in the first eight months, to the lowest level since at least 2012. (chris.wack@wsj.com)
  

• DJ Redfin Is Maintained at Buy by B. Riley Securities, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: RDFN
  
  Ratings actions from Benzinga: https://www.benzinga.com/quote/RDFN/analyst-ratings
  
  (END) Dow Jones Newswires
  
  September 30, 2024 09:11 ET (13:11 GMT)
  

• Redfin Reports Buying a Starter Home Is Now Cheaper Than It Was a Year Ago, from 4 hours ago by Dow Jones

  4 hours ago by Dow Jones
  Companies Mentioned: RDFN
  
  For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
  

• B. Riley Raises Price Target on Redfin to $15 From $13, Keeps Buy Rating, from 4 hours ago by MT Newswires

  4 hours ago by MT Newswires
  Companies Mentioned: RDFN
  07:53 AM EDT, 09/30/2024 (MT Newswires) -- Redfin (RDFN) has an average investment rating of hold among analysts polled by Capital IQ, with price targets ranging from $6 to $15. (MT Newswires covers equity, commodity and economic research from major...