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RDFN
StockNews.AI
29 days

Redfin Reports New Listings Fall to Lowest Level in Nearly Two Years

1. New U.S. home listings fell 3.2% in June, the lowest since October 2023. 2. Active listings decreased by 0.3% month-over-month, signaling market softening.

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FAQ

Why Bearish?

The decline in new and active listings suggests weakening demand, potentially hurting RDFN's market position. Historically, falling listings have negatively impacted real estate stocks, reducing transaction volumes and revenues.

How important is it?

The direct relation of the article's content to RDFN's operations makes it a crucial factor. A trend in decreasing home listings can adversely affect RDFN's revenue and market penetration.

Why Short Term?

The immediate effects of low listings will likely influence RDFN's performance and stock price in the next quarterly reporting cycle. Previous declines in listings led to quick market adjustments in real estate stocks.

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SEATTLE--(BUSINESS WIRE)--New listings of U.S. homes for sale fell 3.2% in June to the lowest seasonally-adjusted level since October 2023, according to a new report from Redfin, the real estate brokerage powered by Rocket. That's the biggest month-over-month decline since February 2023. New listings fell 3.4% year over year, the first annual decline since October 2023. Active listings—the total number of homes for sale—fell 0.3% month over month in June. That's the first decline since July 202.

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