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153 days

Redfin Report: America's Renter Population Grew 1% in the Fourth Quarter

1. Renter households rose 0.8%, the slowest growth in 2023. 2. Homeowner households also increased 0.8%, indicating stable market conditions.

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$11.2103/19 08:14 AM EDTEvent Start
$11.3503/20 02:42 PM EDTLatest Updated
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FAQ

Why Neutral?

The article highlights stable growth, but slow renter increase may suggest a cautious market outlook. Historical data shows that stagnant growth rates can lead to price corrections in the housing sector.

How important is it?

The article discusses trends in household growth, which may impact real estate brokerages' performance. Stable growth rates could lead investors to reassess RDFN’s market position and valuation.

Why Short Term?

Current trends indicate market stability in the short-term, but ongoing slower growth could lead to longer-term challenges. Past instances show that consistent slowdowns often prompt market adjustments.

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SEATTLE--(BUSINESS WIRE)-- #housingmarket--(NASDAQ: RDFN) —The number of renter households in America increased 0.8% year over year to 45.4 million in the fourth quarter—the slowest growth since the first quarter of 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The number of homeowner households rose 0.8% to 86.9 million—a growth rate that's little changed from recent quarters. That marks the first time in over a year that the number of renter and homeow.

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