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The Latest Breaking News from Glenn Kelman

A triple threat stalks the housing market as rates, costs, and election anxiety collide

Oh, and of course, home prices are still skyhigh.

Fortune

Redfin CEO Says If Mortgage Rates Don't Fall, Plan B Is To 'Drink Own Urine Or Competitors Blood'

During Redfin's Q2 earnings call, CEO Glenn Kelman said he is surprised about the muted real estate market activity despite mortgage rates consistently declining in recent months.

International Business Times UK

Buyers are gaining the upper hand in the housing market as top real estate CEO warns sellers on high asking prices: 'The sharks come out, and it will hurt you even more'

"It is a different environment. We are now seeing more sellers than buyers," Compass CEO Robert Reffkin said.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Housing hit ‘rock bottom’ this year, but a top real estate CEO sees improvement over the next several months

Weekly mortgage rates just fell below 7%, a “milestone” in the housing world, according to Redfin’s Glenn Kelman.

Fortune

2 Small-Cap Stocks Insiders Are Buying This Month

Top company insiders have been buying shares of these two Russell 2000 Index components. Here's what investors need to know about these two stocks under $20.

Barchart

Real-estate industry rocked by $1.8 billion verdict finding ‘conspiracy’ to force sellers to pay illegal commission fees

Warren Buffett's HomeServices was among the defendants found liable for a verdict that could climb to more than $5 billion.

Fortune

‘Enough is enough’: Redfin is so furious about the bombshell NAR sexual harassment report it’s ordering thousands of Realtors to ditch the industry group

Redfin only joined the National Association of Realtors in 2017, and now it’s ordering as many of its members to leave as possible. It just can’t yet in some markets.

Fortune

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Better options for homebuyers stand at slim and none right now. And slim just left town.

The Street

Zillow, Redfin Link to Connect Homebuyers With Homebuilders

Real estate rivals aim to increase visibility of new-construction listings.

Kiplinger

Elon Musk says home prices will tumble 'next'—Redfin's CEO disagrees

Elon Musk thinks pain awaits the residential housing market, tweeting that "Commercial real estate is melting down fast. Home values next."

Fortune

State of the Union: Biden sees economic glow, GOP sees gloom

Going into Tuesday’s State of the Union address, President Joe Biden sees a nation with a glowing economic future

The Independent UK

This is the second-biggest home price correction of the post-WWII era—it's also a fairly mild correction

Seattle home prices are down 13.5%, while Chicago home prices have only fallen 0.8%.

Fortune

The U.S. housing market heads into 2023 still in correction mode—these 2 charts show what's happening to home prices

The U.S. home price correction is sharper—and more widespread—than previously thought.

Fortune

The Pandemic Housing Bust rocks bubbly markets like Phoenix

Some markets have gone straight from Pandemic Housing Boom to Pandemic Housing Bust.

Fortune

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Tribune News Service

Seattle’s Redfin to cut workforce by at least 13%, end its house flipping initiative

SEATTLE — The cooling housing market is driving yet another round of layoffs at a Seattle-based company.

Fortune

The U.S. housing market to see second biggest correction of the post-WWII era—when to expect the home price bottom

In the third quarter of 2022, falling home prices erased a record $1.3 trillion in home equity. It isn't over yet.

The Street

Real Estate Companies Are Laying Off Staff Right And Left

Both Redfin and Compass announced that they would be making significant staff layoffs.

Tribune News Service

Redfin to lay off hundreds as housing market cools

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

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Axios

Redfin laying off 8% of its staff

"We could be facing years, not months, of fewer home sales, and Redfin still plans to thrive."

People

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