SEATTLE--(BUSINESS WIRE)--For Seattleites traveling to watch their team compete in this weekend's big game, it's going to cost about three times their monthly mortgage payment—or nearly six times their monthly rent. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. The story is similar for Bostonians, who are also likely to pay about three times their mortgage payment to watch their team on the national stage. The cost would be more than four times their. ...

DETROIT--(BUSINESS WIRE)--Redfin, part of Rocket Companies (NYSE: RKT), today announced The Great American Home Search – a nationwide activation that transforms the Big Game into a life changing opportunity to win a home valued at more than $1 million. To play, download or update the Redfin app to participate in this never-been-done-before scavenger hunt. The search begins at 8 p.m. ET, moments after Rocket and Redfin's Big Game spot airs on February 8. Over the following 48 hours, Redfin will. ...

Core Insights - Kelman joined Redfin in 2005, contributing to its growth from a small Seattle startup to a nationally recognized real estate brokerage and technology platform [1] Company Overview - Redfin was launched in 2004 and has evolved significantly under Kelman's guidance [1] - The company is known for its innovative approach in the real estate industry, combining brokerage services with technology [1] Industry Impact - Redfin's transformation reflects broader trends in the real estate industry, where technology plays an increasingly vital role in brokerage services [1] - The company's growth signifies the shift towards tech-driven solutions in real estate, impacting traditional brokerage models [1]

Core Viewpoint - President Trump's goal of banning "large institutional investors" from purchasing single-family homes is seen as ineffective in addressing the fundamental issue of high home prices, which is primarily due to a shortage of homes [1][16][18]. Group 1: Impact of Institutional Investors - Major investors, including hedge funds and private equity firms, own hundreds of thousands of single-family homes, raising concerns about their competition with individual homebuyers, particularly first-time buyers [2][5]. - Institutional investors control about 2% of the single-family rental housing stock, but they have a significant presence in certain markets, owning 25% of single-family rental homes in Atlanta and 21% in Jacksonville [9][11]. - Studies indicate that institutional investment may lead to increased rents and home prices, especially in areas with high rates of institutional ownership [12][19]. Group 2: Market Dynamics and Responses - Following the 2008 financial crisis and during the pandemic, large investors purchased thousands of homes, predicting future increases in home values and rents due to population growth [4][5]. - Since 2022, large investors have reduced their purchasing activities as interest rates have risen and home prices have remained high, with some shifting to bulk purchases from homebuilders [9][10]. - Economists argue that the real issue driving rising prices is the undersupply of homes, rather than the actions of institutional investors [18][20]. Group 3: Proposed Solutions and Challenges - Experts suggest that simply banning large investors from buying homes will not significantly improve affordability, as it does not address underlying market conditions [16][17]. - Alternative solutions, such as raising property taxes on homes owned by institutional investors, could discourage their purchasing behavior while generating tax revenue for affordable housing initiatives [23][24]. - The enforcement of any ban on large investors could be complicated, as they might create smaller entities to circumvent restrictions [23][24].

Core Insights - Coastal Florida achieved the highest home sale in 2025 with a beachfront compound in Naples selling for $133 million, followed by two estates in Los Angeles each selling for $110 million [1][3] - The top 10 home sales in 2025 all exceeded $60 million, with Florida and California being the dominant states in this luxury market [1][3] Market Overview - Florida emerged as a significant player in the ultra-luxury real estate market in 2025, with Fisher Island briefly becoming the most expensive ZIP Code in the U.S. before Newport Coast, CA reclaimed the title [2] - Typical home prices in both Florida and California's luxury markets are over $11 million [2] Sales Breakdown - Los Angeles and coastal Florida accounted for eight of the ten most expensive home sales in 2025, with additional sales from Hawaii and the Bay Area completing the list [3] Future Outlook - Despite economic uncertainty and limited affordability, luxury homes sold quickly in 2025, indicating a resilient market [5] - The luxury real estate market is expected to undergo changes in 2026, potentially improving affordability for everyday buyers [5]

Core Insights - The average rate for a 30-year fixed mortgage in the U.S. has decreased to 6.18%, down from 6.21% the previous week, marking a continued decline since September [1] - Despite the drop in mortgage rates, buyer activity remains sluggish, with active homebuyers in the market at approximately 1.43 million, the lowest level recorded by Redfin since April 2020 [1] - The number of sellers has outpaced buyers by about 37% in November, more than double the gap from the previous year, indicating a significant imbalance in the housing market [1] Market Dynamics - Sellers are withdrawing listings in anticipation of a market rebound, with expectations that the upcoming spring selling season may attract more buyers as weather improves [1] - Redfin's senior economist suggests that moderate improvements in housing affordability could entice some buyers back into the market by 2026, but the housing market is likely to remain in a buyer's market for the foreseeable future [1] - To attract buyers, sellers may need to lower prices or offer incentives, reflecting the current competitive landscape in the housing sector [1]

Core Insights - U.S. pending home sales experienced a significant decline of 5.8% year-over-year during the four weeks ending December 14, marking the largest drop since early 2025 [1] Summary by Category Market Performance - The decline in pending home sales is observed across nearly all major U.S. metro areas, with only six out of the 50 most populous areas reporting increases [1] - The most substantial decreases in pending sales were recorded in San Jose, CA with a drop of 35.1%, followed by Houston at 20.9%, and Oakland, CA at 17.6% [1] Sales Trends - The typical U.S. home that does sell is facing a challenging market environment, as indicated by the overall decline in pending sales [1]

Core Viewpoint - The U.S. real estate market is expected to undergo a "major reset" by 2026, with gradual recovery in housing sales and normalization of prices, although affordability remains a challenge for many young buyers [1][6]. Group 1: Market Trends - The 30-year mortgage rates in the U.S. have stabilized below 6.3%, currently at 6.22%, indicating a trend towards easing [1]. - Redfin's annual outlook report suggests that housing sales will gradually rebound, with prices becoming more normalized and affordability slowly improving [1][6]. - The National Association of Realtors (NAR) predicts a 14% increase in existing home sales and a 4% rise in home prices by 2026, with mortgage rates expected to drop to around 6% [6]. Group 2: Regional Market Dynamics - The U.S. housing market is showing signs of significant differentiation, with some areas remaining strong while others are experiencing a slowdown [3]. - In New York City, while overall transactions are weak, desirable properties still attract competitive bids, particularly in areas with limited supply [3][4]. - Florida's market is cooling down from the pandemic highs, with a stable demand from first-time buyers and a decrease in investor activity due to high mortgage rates [5]. Group 3: Investor Sentiment - International investors are shifting focus away from the U.S. due to high financing costs and policy uncertainties, with many opting for cash purchases to negotiate better deals [6]. - The reduction in investor activity is attributed to rising mortgage rates, which have significantly compressed profit margins for potential buyers [5][6]. Group 4: Future Outlook - The housing market is expected to enter a healthier state by 2026, with improved affordability attracting more buyers back to the market [7][8]. - Despite anticipated improvements, many potential buyers, particularly younger generations, may still find homeownership out of reach due to high living costs [7][8]. - The overall sentiment in the market is cautious optimism, with expectations of a stable and sustainable pace rather than extreme fluctuations seen in previous years [8].

Core Insights - The partnership between Zillow and Redfin is under scrutiny for potentially violating antitrust laws by reducing competition in the rental listings market [6][7] - The Federal Trade Commission (FTC) and five state attorneys general have filed lawsuits against the companies, alleging unlawful agreements that harm renters and property operators [6][7] Group 1: Market Dynamics - The internet listing service advertising market is highly concentrated, with Zillow and Redfin being key players [3] - In February 2025, Zillow and Redfin announced a deal making Zillow the exclusive provider for Redfin's websites, aiming to increase access for renters and property owners [4] Group 2: Legal Proceedings - Redfin agreed to cease its contracts with advertising customers and stop competing in the multifamily property market for up to nine years [5] - The FTC's complaint highlights that the partnership could lead to higher prices and worse terms for renters, reducing competition incentives for both companies [6] Group 3: Financial Aspects - Zillow paid Redfin $100 million to facilitate its exit from the rental listing market [7] - Following the agreement, Redfin dismantled its multifamily rental internet listing service and laid off approximately 450 employees [5]

Core Insights - The housing market is experiencing a stalemate where sellers are withdrawing listings due to high prices and mortgage rates, while buyers are unable to afford homes at these prices [2][3][15] Supply and Demand Dynamics - Sellers are taking homes off the market at the fastest pace in nearly a decade, primarily because they are unwilling to lower their asking prices [1][2] - Active listings are up, but true supply is tighter than it appears, as many homes are overpriced and sellers are not negotiating [8][9] - In markets like Florida and Texas, sellers are more likely to withdraw listings due to price competition, while in areas like New York, sellers are satisfied with offers and keep their homes on the market [6][7] Buyer Behavior - Buyers are increasingly opting to rent instead of purchasing homes due to affordability issues, leading to a decrease in demand [8][12] - The escrow period often leads to complications that can cause deals to fall apart, as buyers may discover additional costs that sellers are unwilling to cover [12][13] Interest Rates and Market Movement - A reduction in interest rates would likely help align the interests of buyers and sellers, as sellers are holding out for higher prices to offset the impact of high rates on their next home purchase [15][16] - Current interest rates are still too high to significantly stimulate market activity, with a need for rates around 5% for a meaningful change [16]