Stock Track | Redfin Plummets 5.01% as Florida Housing Market Slumps

Stock Track

28 Feb

Redfin Corp's stock took a hit on Thursday, plummeting 5.01% during intraday trading, primarily due to the worsening housing market conditions in Florida, one of the company's key markets.

According to Redfin's latest report, Florida experienced a record high level of homes for sale in January, with inventory surging 22.7% year-over-year to 172,209 homes. The surge can be attributed to several factors:

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.

While the overall U.S. housing market has shown some positive signs, such as slowing home price growth and declining mortgage rates, which could potentially boost buyer demand, the situation in Florida appears to be weighing heavily on Redfin's stock performance.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/1198376729"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"1198376729\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/1198376729?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-02-28 01:18","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1198376729","market":"us","top_or_hot":-1,"title":"Stock Track | Redfin Plummets 5.01% as Florida Housing Market Slumps","media":"Stock Track","content":"<html><body><p>Redfin Corp's stock took a hit on Thursday, plummeting 5.01% during intraday trading, primarily due to the worsening housing market conditions in Florida, one of the company's key markets.</p>\n<p>According to Redfin's latest report, Florida experienced a record high level of homes for sale in January, with inventory surging 22.7% year-over-year to 172,209 homes. The surge can be attributed to several factors:</p>\n<ul>\n<li>An influx of newly built homes for sale, as Florida has been building more homes than most states.</li>\n<li>Intensifying natural disasters, which have caused home insurance costs to skyrocket, prompting some homeowners to leave the state.</li>\n<li>A cooling in homebuyer demand, with pending home sales in Florida declining 9.3% year-over-year in January.</li>\n<li>A surge in condo inventory due to new regulations aimed at ensuring structural soundness, leading to soaring HOA fees.</li>\n</ul>\n<p>While the overall U.S. housing market has shown some positive signs, such as slowing home price growth and declining mortgage rates, which could potentially boost buyer demand, the situation in Florida appears to be weighing heavily on Redfin's stock performance.</p></body></html>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>Stock Track | Redfin Plummets 5.01% as Florida Housing Market Slumps</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Redfin Plummets 5.01% as Florida Housing Market Slumps\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-28 01:18</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Redfin Corp's stock took a hit on Thursday, plummeting 5.01% during intraday trading, primarily due to the worsening housing market conditions in Florida, one of the company's key markets.</p>\n<p>According to Redfin's latest report, Florida experienced a record high level of homes for sale in January, with inventory surging 22.7% year-over-year to 172,209 homes. The surge can be attributed to several factors:</p>\n<ul>\n<li>An influx of newly built homes for sale, as Florida has been building more homes than most states.</li>\n<li>Intensifying natural disasters, which have caused home insurance costs to skyrocket, prompting some homeowners to leave the state.</li>\n<li>A cooling in homebuyer demand, with pending home sales in Florida declining 9.3% year-over-year in January.</li>\n<li>A surge in condo inventory due to new regulations aimed at ensuring structural soundness, leading to soaring HOA fees.</li>\n</ul>\n<p>While the overall U.S. housing market has shown some positive signs, such as slowing home price growth and declining mortgage rates, which could potentially boost buyer demand, the situation in Florida appears to be weighing heavily on Redfin's stock performance.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RDFN","symbol_name":"Redfin Corp","start_time":0,"source_url":"","article_id":"1198376729","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1198376729","pubTimestamp":1740676737,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Redfin Corp's stock took a hit on Thursday, plummeting 5.01% during intraday trading, primarily due to the worsening housing market conditions in Florida, one of the company's key markets.According to Redfin's latest report, Florida experienced a record high level of homes for sale in January, with inventory surging 22.7% year-over-year to 172,209 homes. The surge can be attributed to several factors:. An influx of newly built homes for sale, as Florida has been building more homes than most sta","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"RDFN":"Redfin Corp"},"translate_title":"由于佛罗里达州房地产市场暴跌，股票追踪Redfin暴跌5.01%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RDFN":1},"content_text":"Redfin Corp's stock took a hit on Thursday, plummeting 5.01% during intraday trading, primarily due to the worsening housing market conditions in Florida, one of the company's key markets.\nAccording to Redfin's latest report, Florida experienced a record high level of homes for sale in January, with inventory surging 22.7% year-over-year to 172,209 homes. The surge can be attributed to several factors:\n\nAn influx of newly built homes for sale, as Florida has been building more homes than most states.\nIntensifying natural disasters, which have caused home insurance costs to skyrocket, prompting some homeowners to leave the state.\nA cooling in homebuyer demand, with pending home sales in Florida declining 9.3% year-over-year in January.\nA surge in condo inventory due to new regulations aimed at ensuring structural soundness, leading to soaring HOA fees.\n\nWhile the overall U.S. housing market has shown some positive signs, such as slowing home price growth and declining mortgage rates, which could potentially boost buyer demand, the situation in Florida appears to be weighing heavily on Redfin's stock performance.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1}}}