Is Redfin Stock a Buy?
More than a decade removed from the financial crisis of 2008-09, a steady housing market got a shot of rocket fuel in the wake of initial pandemic lockdowns last spring. Confined to home and presented with new opportunities to relocate thanks to remote work, Americans went house shopping -- but were presented with a short supply of existing homes to choose from. What has ensued in the last year is a sharp rise in home values, bidding wars on properties, and a white-hot U.S. housing market that has put lots of cash in some home sellers' pockets.
Signs abound that things are cooling off, though, including from data presented by tech-enhanced real estate brokerage firm Redfin (NASDAQ: RDFN). In fact, shares are down 31% year to date as of this writing after an epic 225% gain in 2020. Is Redfin stock a buy?
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Source Fool.com
