Redfin Reports 28% of Houses For Sale Are Newly Built, the Lowest Share in 3 Years
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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US:NASDAQ Investor Relations:
investors.redfin.com/investor-relations
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Source: Business Wire
New-construction homes are making up a smaller portion of total inventory as builders back off and more homeowners list their houses for sale SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Newly built homes made up 28% of single-family homes for sale nationwide in the third quarter, the lowest level in three years, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.That’s down from 30.5% a year earlier and a record-high 34.4% at the start of 2022.The share of houses for sale that are newly built has dropped from its peak for several reasons:More existing inventory has hit the market. The total supply of existing single-family inventory is up 22% year over year. That’s partly because the lock-in effect has started to ease, with people growing tired of waiting for mortgage rates to come down before selling their home and searching for a new one.House hunters have bought up much of the new construction on the market. Sales of newly built singl
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RDFN
News
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RDFN
Earnings
- 8/6/24 - Beat
RDFN
Sec Filings
- 8/28/24 - Form 4
- 8/27/24 - Form 4
- 8/23/24 - Form 144
- RDFN's page on the SEC website