Redfin Corp

NASDAQ:RDFNUnited States

Sep 26, 2024

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• DJ Asking Rents for New Apartments Drop to Lowest Level Since 2022 -- Market Talk, from 10:30AM ET on Thursday Sep 26, 2024 by Dow Jones

  10:30AM ET on Thursday Sep 26, 2024 by Dow Jones
  Companies Mentioned: RDFN
  
  1030 ET - Asking rents for newly constructed apartments fell to $1,746 in 2Q, down 6.2% from a year earlier, to the lowest level in more than two years, Redfin says. It was the second consecutive quarter that rents for newly built apartments posted an annual decline and the second-steepest drop in the past five years--trailing only this year's 1Q, when rents fell 7.5%. Monthly asking rents for new apartments hit a peak of $1,889 in 1Q 2022, but have trailed off since, as the number of newly constructed apartments shot up. Apartment completions rose 18.7% in the first quarter year over year to reach the highest number in over a decade. (chris.wack@wsj.com)
  

• DJ Homebuyers Are Coming Back as Mortgage Demand Rises -- Market Talk, from 9:49AM ET on Thursday Sep 26, 2024 by Dow Jones

  9:49AM ET on Thursday Sep 26, 2024 by Dow Jones
  Companies Mentioned: RDFN
  
  0946 ET - Homebuyers locked in nearly 70% more mortgages than they did a month earlier on Sept. 23, according to Redfin. The surge in mortgage-rate locks comes five days after the Fed cut interest rates for the first time in four years. Mortgage-purchase applications are up more than 10% month over month. Home tours and demand are also up. Pending U.S. home sales fell 3.1% during the four weeks ending Sept. 22, but that's the smallest decline in five weeks, and the increases in mortgage-rate locks and mortgage applications will likely lead to an uptick in sales over the next few weeks. Mortgage rates and housing costs had been declining meaningfully for several weeks before the rate cut, but before this week it hadn't led to an uptick in demand. (chris.wack@wsj.com)
  

• Redfin Reports Asking Rents for New Apartments Drop 6% to Lowest Level Since 2022, as Finished Buildings Soar, from 8:30AM ET on Thursday Sep 26, 2024 by Dow Jones

  8:30AM ET on Thursday Sep 26, 2024 by Dow Jones
  Companies Mentioned: RDFN
  
  (NASDAQ: RDFN) -- Asking rents for newly constructed apartments fell to $1,746 in the second quarter, down 6.2% from a year earlier to the lowest level in more than two years. That's according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
  

• Redfin Reports Buyers Are Coming Back: Mortgage Demand Shoots Up, Home Tours Hit Highest Level Since May, from 8:00AM ET on Thursday Sep 26, 2024 by Dow Jones

  8:00AM ET on Thursday Sep 26, 2024 by Dow Jones
  Companies Mentioned: RDFN
  --------------------- ------------------ ------------------ -------------- ------------ Google searches for Up 4% from a month Down 4% Google "home for sale" earlier (as of Trends Sept. 22) --------------------- ------------------ ------------------ -------------- ------------