Redfin Corporation

Redfin Corporation is an American residential real estate company that operates an online real estate platform. The company provides homebuyers with online tools to search for homes and connects them with local agents to tour and make offers on properties. Redfin also offers a variety of services such as mortgage lending, title insurance, and home warranties. The site publishes articles about the housing market, providing updates on trends in prices, demand, supply, and mortgage rates. Articles also discuss factors influencing the market like record-breaking heat or changes in interest rates. Redfin's reporting highlights both rising home prices and instances of homes selling below asking price. The site occasionally reports on conflicts of interest when discussing the impact of high mortgage rates on buyers.

79%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermines the credibility of the source. It is calculated as:
Analysis.OverallConflictOfInterestScore * 0.3F + Analysis.OverallBiasScore * 0.3F + Analysis.DeceptivenessScore * 0.3F + Analysis.ReadabilityScore * 0.1F

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

The Daily's Verdict

This news site has a mixed reputation for journalistic standards. It is advisable to fact-check, scrutinize for bias, and check for conflicts of interest before relying on its reporting.

Bias

95%

Examples:

  • Buyers may get a slight respite soon on costs soon.

Conflicts of Interest

75%

Examples:

  • Record-breaking heat is another reason some buyers have taken a backseat recently.

Contradictions

85%

Examples:

  • The likelihood of homes selling below asking price is rising due to more supply than demand in certain parts of the country.
  • The median asking price dropped roughly $3,000 to $416,623 in the last week
  • The median sale price rose to another record high, pricing out some buyers

Deceptions

65%

Examples:

  • More home sellers are cutting their asking price, suggesting sale-price growth could soften in the coming months.
  • Nearly 7% of home sellers dropped their asking price, on average.
  • The median sale price is up 4.3% year over year to another record high, though sale prices are a lagging indicator because they're typically negotiated at least a month before a deal closes.

Recent Articles

  • Housing Market Shifts: Homes Sell Below Asking Price for First Time Since Pandemic, Prices Cool and Buyers Gain Power

    Housing Market Shifts: Homes Sell Below Asking Price for First Time Since Pandemic, Prices Cool and Buyers Gain Power

    Broke On: Sunday, 30 June 2024 Amidst cooling housing market trends, homes now sell below asking price for the first time since the pandemic began. The typical U.S. home sold 0.3% under its list price in late June 2024, marking a significant shift from previous years when homes typically sold at or above their asking prices. Sellers have been reducing prices by about 7%, compared to a decrease of 4.7% last year, as inventory remains low and demand eases slightly.
  • Housing Market Shifts: Median Home Prices Decline, Sellers Adjust to Falling Demand and Rising Mortgage Rates

    Housing Market Shifts: Median Home Prices Decline, Sellers Adjust to Falling Demand and Rising Mortgage Rates

    Broke On: Thursday, 30 May 2024 In May 2023, the US housing market saw a shift with median asking prices declining for the first time in six months due to falling demand and rising mortgage rates. Sellers responded by reducing prices on 6.4% of listings, causing inventory to rise to a median of 46 days. Despite this trend, competition remains fierce for well-priced listings, while overpricing leads to delistings and price drops.
  • Rising Mortgage Rates: What You Need to Know

    Rising Mortgage Rates: What You Need to Know

    Broke On: Thursday, 15 February 2024 Mortgage rates have increased to 6.77% for the second week, driven by high inflation and strong employment data.