Redfin Reports Newly Built Apartments Are Filling Up at the Slowest Pace Since 2020
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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investors.redfin.com/investor-relations
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Source: Business Wire
There are more new apartments hitting the market than normal. As a result, building owners are competing with one another for tenants, which is limiting how much they can boost prices. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Less than half (47%) of newly constructed apartments that were completed in the fourth quarter were rented within three months, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s down from 60% a year earlier and is the lowest seasonally-adjusted share on record aside from the first quarter of 2020, when the onset of the pandemic brought the housing market to a halt.New apartments are taking longer to rent out because there are a lot of them hitting the market, meaning building owners are competing with one another for tenants. There were 90,260 new apartments completed in the fourth quarter—the second highest number in records dating back to 2012 (the highest was the second quarter of 2023).For the past t
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RDFN
News
- With 56% ownership of the shares, Redfin Corporation (NASDAQ:RDFN) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Starter Homes Are Affordable to the Typical Black Family in Just 10 Major U.S. MetrosBusiness Wire
- Redfin Reports the Typical Home Is Selling for Less Than List Price, the First Time That Has Happened in Late Spring Since Start of PandemicBusiness Wire
- Homeowners Can Now Use Redfin to Redesign Their Home PhotosBusiness Wire
- Redfin Reports Only 39% of Renters Make Enough Money to Afford the Median-Priced ApartmentBusiness Wire
RDFN
Earnings
- 5/7/24 - Beat
RDFN
Sec Filings
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- RDFN's page on the SEC website