Stock Track | Redfin Plunges Nearly 10% in Pre-Market After Disappointing Q4 Results and Florida Housing Woes

Stock Track

Feb 28, 2025

Redfin Corp (RDFN) experienced a significant pre-market plunge of 9.82% on Friday, February 28, 2025, following the release of its disappointing fourth-quarter 2024 earnings results and concerns over the worsening housing market conditions in Florida, one of its key markets.

The online real estate brokerage reported a wider-than-expected adjusted loss of 29 cents per share for the fourth quarter, missing analyst estimates of a 24-cent loss. While revenue came in slightly above expectations at $244.3 million, Redfin's adjusted EBITDA of $2.9 million fell short of the consensus estimate of $4.75 million.

Exacerbating the earnings miss was Redfin's report that Florida experienced a record high level of homes for sale in January 2025, with inventory surging 22.7% year-over-year to 172,209 homes. This surge was attributed to several factors, including:

An influx of newly built homes for sale, as Florida has been building more homes than most states.
Intensifying natural disasters, which have caused home insurance costs to skyrocket, prompting some homeowners to leave the state.
A cooling in homebuyer demand, with pending home sales in Florida declining 9.3% year-over-year in January.
A surge in condo inventory due to new regulations aimed at ensuring structural soundness, leading to soaring HOA fees.

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While revenue came in slightly above expectations at $244.3 million, Redfin's adjusted EBITDA of $2.9 million fell short of the consensus estimate of $4.75 million.</p>\n\n<p>Exacerbating the earnings miss was Redfin's report that Florida experienced a record high level of homes for sale in January 2025, with inventory surging 22.7% year-over-year to 172,209 homes. 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While revenue came in slightly above expectations at $244.3 mi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RDFN":"Redfin Corp"},"translate_title":"由于第四季度业绩令人失望和佛罗里达州住房问题，股票跟踪Redfin盘前暴跌近10%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RDFN":1},"content_text":"Redfin Corp (RDFN) experienced a significant pre-market plunge of 9.82% on Friday, February 28, 2025, following the release of its disappointing fourth-quarter 2024 earnings results and concerns over the worsening housing market conditions in Florida, one of its key markets.\nThe online real estate brokerage reported a wider-than-expected adjusted loss of 29 cents per share for the fourth quarter, missing analyst estimates of a 24-cent loss. 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