Although COVID-19 disrupted most industries, the housing sector managed to conquer the headwinds as people sought to buy their dream homes amid the prevailing rock-bottom interest rates. With a growing demand for housing, inventories diminished, leading to prices skyrocketing. People scrambled to get a piece of their dream real estate. As a result, shares of Redfin Corporation (RDFN) soared.
RDFN operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchasing or selling homes. It also provides title and settlement services, originates and sells mortgages, and buys and sells homes.
