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RDFN
StockNews.AI
124 days

Redfin Reports U.S. Homes Are Selling at the Slowest Pace in 6 Years

1. Typical U.S. homes spent 47 days on the market in March, highest since 2019. 2. This slow selling period contrasts sharply with the pandemic's rapid sales pace.

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FAQ

Why Bearish?

Extended home market durations suggest cooling demand, aligning with historical trends during economic contractions.

How important is it?

RDFN's core business relies on home sales velocity, making prolonged market times a vital concern.

Why Short Term?

The immediate market reaction may reflect existing demand issues, influencing RDFN's performance soon.

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Zillow (Z)Opendoor (OPEN)Realty Income Corp (O)
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The typical U.S. home that went under contract in March was on the market for 47 days—the longest period for any March since 2019. That's according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. By comparison, the typical home was selling in under half that time during the peak of the pandemic homebuying frenzy. March marked five years since the coronavirus was declared a pandemic, and many U.S. housing metr.

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