StockNews.AI
RDFN
StockNews.AI
109 days

Permits to Build U.S. Apartments Drop Below Pre-Pandemic Levels

1. U.S. multifamily housing permits fell to 12.4 units per 10,000 people. 2. This marks a 27.1% decline from pandemic boom levels.

2m saved
Insight
Article

FAQ

Why Bearish?

The decline in multifamily housing permits suggests a slowing real estate market, historically impacting real estate firms negatively. For instance, similar downturns correlated with reduced stock values for real estate brokers like RDFN in past market contractions.

How important is it?

The report highlights a significant trend in housing development, which directly affects RDFN's operational landscape. The decrease in permits may impact revenue prospects, making this information crucial for investors.

Why Short Term?

The immediate market sentiment around real estate development can lead to a quick stock price reaction. Historical trends show quick market responses to real estate permit data.

Related Companies

LENDHIPHM
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Developers obtained permits to build 12.4 multifamily housing units for every 10,000 people in the U.S. over the past year, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That's down 27.1% from 17 units per 10,000 people during the pandemic building boom, and down 5.5% from 13.1 units in the years leading up to the pandemic. This is according to a Redfin analysis of U.S. Census Bureau data covering bui.

Related News