Comment on The sluggish housing market is weighing on Redfin's stock as home sales 'near rock bottom'

The sluggish housing market is weighing on Redfin's stock as home sales 'near rock bottom'

The typical US homebuyer’s monthly mortgage payment soared to a record high in April, according to Redfin.Tom Merton/Getty Images Redfin stock plunged as much as 24% Friday following a downbeat earnings report. Second-quarter revenue dropped 21% compared to 2022. "Sales volume is near rock bottom," CEO Glenn Kelman told analysts on Thursday. Redfin stock plunged Friday as the housing market slump hit the real estate company's second-quarter earnings.Shares fell as much as 24% following the earnings release on Thursday.

 

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