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Tribune News Service
Tribune News Service
Business
Heidi Groover

Redfin to lay off hundreds as housing market cools

Redfin Glenn Kelman Zillow Housing Market Seattle Compass SEC

The cooling housing market is catching up with Seattle's real estate tech companies.

With fewer people buying homes, the listing site and brokerage Redfin said Tuesday it would lay off nearly 500 employees.

"We don't have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects," CEO Glenn Kelman wrote in a message to employees that was also posted on the company's blog.

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