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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 08:10 EDT
Oppenheimer analyst Jason Helfstein raised his price target for Redfin to $31 from $24 after the company delivered stronger than expected gross margin performance on increased broker efficiency, aided by a strong real estate market. The analyst maintains an Outperform rating on the shares.
News For RDFN From the Last 2 Days
Dec 1, 2021 | 19:39 EST
In a press release, Redfin stated: "The number of homes for sale hit an all-time low during the week ending November 28, according to a new report from Redfin. During that period, sustained demand pushed the median home price to another record high, and a third of homes sold in one week or less. The median home-sale price hit a new all-time high of $360,375, up 14% year over year. This was up 31% from the same period in 2019 and up 1.5% from a month earlier, far greater than the 0.2% increase seen during the same period last year. Asking prices of newly listed homes were up 12% from the same time a year ago and up 27% from 2019 to a median of $349,750. Pending home sales were up 8% year over year, and up 49% compared to the same period in 2019. New listings of homes for sale were down 4% from a year earlier, but up 12% from 2019."