Redfin simplifies buying, selling, and renting homes through its technology-driven real estate services in the U.S. It offers brokerage, instant home buying (iBuying), rentals, lending, title insurance, and renovation services, charging lower commission fees for sellers compared to traditional agents. Redfin provides extensive online resources for buyers and directly purchases homes from sellers for a quick selling process. The company generates revenue from various sources, including commissions and iBuying, and has facilitated transactions worth $200 billion by the end of 2021.

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Redfin

Wiener, who previously served as president of real estate services at Redfin, will lead Lower's technology, marketing, data science and direct-to-consumer sales organizations.

Lower names former Redfin exec Adam Wiener as its new president

Seattle-based Redfin lays off nearly 50 employees.

Seattle-based Redfin lays off nearly 50 employees

This is the fifth round of layoffs at Redfin since June 2022, when Redfin laid off 500 employees as the housing market began to turn.

Redfin lays off 46 employees

(BigStock Photo)Seattle-based real estate company Zillow Group laid off an unspecified number of employees, the company confirmed Friday.According to a statement from Zillow to GeekWire, the cuts impacted roles on reorganized agent software and advertising teams:. “As part of our ongoing commitment to working with our agent customers to offer a digitized and integrated experience to more movers in more markets, we are focused on the long-term growth of the products and business solutions we offer to agents. We feel as confident as ever about this strategy, and we continue to prioritize investment in the areas that will most benefit our agent customers. “This week we’ve made some changes to the organizational structure of several agent software and advertising teams, resulting in the elimination of certain roles. We are grateful to the impacted employees for their contributions to Zillow and are ensuring their transition is as smooth as possible. While decisions like these are never easy and never our first choice, we believe responsibly managing our resources has positioned our teams well to deliver for consumers, agent customers and the broader real estate industry in 2025.”

Zillow Makes Job Cuts After Reorganizing Agent Software And Advertising Teams

Redfin laid off 46 employees on Thursday, in another round of job cuts at the Seattle-based real estate company.

Redfin lays off 46 employees in latest cuts at Seattle real estate company

(GeekWire File Photo / Nat Levy)Redfin laid off 46 employees on Thursday, in another round of job cuts at the Seattle-based real estate company. A spokesperson confirmed the layoffs, which affected “primarily managers in our headquarters, program, and field leadership roles,” according to the company’s statement to GeekWire. No agents were impacted and the company said it is “continuing to aggressively hire agents.”Redfin employs more than 4,000 people. The company has had multiple rounds of cuts over the past two years as it navigates a tough real estate market. Mortgage rates reached 6.93% this week, the highest level since July. Home listings are up, but partly due to unsold homes sitting on the market, Redfin reported

Redfin Lays Off 46 Employees In Latest Cuts At Seattle Real Estate Company

Redfin partnered with Ipsos to survey 1,802 U.S. adults about their housing choices.

34% of homeowners say they'll never sell their home: Redfin

Wall Street analysts had hoped the housing market would show signs of life in 2024. Instead, it remained stagnant. The reason is largely tied to mortgage rates' bumpy path this year alongside low supply and record home prices. In January, the average 30-year fixed mortgage rate was hovering around 6.6%, according to Freddie Mac. Now, despite ups and downs, the rate is hovering around the same level. It was 6.72% in the week through Wednesday, compared with 6.6% a week earlier, according to Freddie Mac data

Why A Housing Market 'Thaw' Never Came In 2024

With homeownership increasingly out of reach, many millennials are turning to high-end rentals.Developers are in a hurry to meet that demand even if it means constructing fewer homes to sell, The Wall Street Journal reported Tuesday (Dec. 10).For example, there’s AvalonBay Communities, one of the largest multifamily real estate investment trusts, according to the report. It’s a new entry in the build-to-rent business, spending $49 million to snatch up a set of 126 build-to-rent townhomes in Texas.“We think we’re really in the early stages of what could be a pretty significant, almost new asset class,” said Matt Birenbaum, chief investment officer at AvalonBay, which is planning to invest $1 billion in the sector, per the report.AvalonBay is one of several institutional investors and private equity firms hoping to capitalize on the build-to-rent market, in which developers construct neighborhoods of single-family homes designed to be leased and not owned, the report said.Their targets? A growing number of Americans who thought they might someday be homeowners as they got older, but now see renting as a more affordable path, per the report.Between 2021 and 2023, the number of build-to-rent housing starts doubled to 10% of overall single-family housing, the report said, citing a National Association of Realtors analysis of data from the U.S. Census Bureau.For the first time in more than two years, the American renting population has exceeded that of homeowners for the last four quarters. During the third quarter, renter households rose 2.7%, three times the pace of homeowner households and the fastest pace for renters in nine years, the report said, citing a Redfin analysis of census data.This growth is in response to the increasing gap between the cost of renting versus owning a home, as mortgage rates remain at close to 7%, according to the report.Meanwhile, the PYMNTS Intelligence report “Money Mobility Tracker®: From Rent to Refunds: The Push for Faster Payments in Property Management” showed the pressures facing homeowners and renters amid issues such as high inflation and living expenses. As a result, nearly half struggle to keep up with their monthly housing payments.“Twenty-two percent of respondents report skipping meals, while nearly 21% work extra hours or sell belongings,” PYMNTS wrote in April

Millennials Forgo Homeownership And Boost Rent-To-Build Market

Rent prices ticked down 0.6% in October from the prior month as the supply of apartments coming onto the market outpaces demand. The median asking rent fell to $1,619 in October, new data from Redfin showed Tuesday. That marked a drop from September, but a slight 0.2% increase from a year before. This data comes one day before the government’s Consumer Price Index (CPI) report for October. Shelter costs have been one of the biggest contributors to inflation over the last year, with shelter and food costs accounting for 75% of the increase in the CPI in September. The softening in rent increases comes as new multifamily housing units are being completed at the fastest pace on record since 1994

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Technology-driven real estate services provider

Redfin

Technology-driven real estate services provider

Redfin

Technology-driven real estate services provider

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