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Redfin's chief executive predicts years, not months, of fewer home sales.
Mortgage rates are climbing, home sales are dropping and some of the nation's largest real estate companies are announcing layoffs.
As the U.S. housing sector cools off, housing companies are slashing jobs left, right and center. One CEO of a real estate company said that job cuts were necessary, given how bad things are about to
Yahoo Finance's Emily McCormick details the layoffs real estate companies are issuing amid declining home sales.
Real estate firms Compass and Redfin revealed plans to conduct layoffs on Tuesday as surging mortgage rates trigger a slowdown in the once-booming housing market.
Shares of homebuilders traded broadly lower Tuesday, after two real estate companies announced job cuts, another sign suggesting the housing market has slowed. The iShares U.S. Home Construction ETF I
Real estate stocks Redfin and Compass have both dropped 25% over the last five days as the US housing market faces turmoil.
Shares of the real estate brokers fell sharply in Tuesday trading after they each announced plans to lay off more than 400 employees.
CNBC's Diana Olick joins 'The Exchange' to report on real estate companies laying off workers amid slowing home sales.
The Redfin real estate company laid of 8% of its workforce as the industry continues to contract Tuesday.
The housing market has taken a huge hit this year as mortgage interest rates have surged and homeowners scale back on purchases. The latest casualties in the proptech world are Redfin and Compass, whi
Redfin will cut about 6% of its workforce while Compass plans on cutting around 10%.
Shares of Redfin Corp. RDFN, -3.63% dropped 3.7% toward a record low in midday trading Tuesday, after the real estate brokerage disclosed a decision to lay off 470 employees, or about 6% of its workfo

Why Redfin Stock Plummeted by Nearly 11% Today

07:21pm, Monday, 13'th Jun 2022
The company's research reveals that luxury home buying is slowing considerably, and potential homeowner budgets are flattening.
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