Redfin (RDFN) real estate report notes that homes for sale in the US fell 7.1% year-over-year to the lowest level in Redfin history. George Tsilis joins Renita Young and Jenny Horne to discuss this report and the state of housing. the report highlights that there were 1.4M available in May 2023 versus 2.2M in May 2019 and that higher rates mean people are opting to stay put. George talks about how homebuilders are doing much better, but people are reluctant to move. Redfin mentions that there are nearly 40% fewer homes for sale now than pre-pandemic. Tune in to find out more about the stock market today.
Next Gen Investing
21 Jun 2023