The median age of homes purchased nationwide reached a record high of 36 years in 2024, a significant jump from 27 years in 2012, according to an analysis released Monday by Redfin.
The trend reflects a long-term slowdown in new home construction and growing affordability challenges. Buyers are increasingly turning to older properties, often out of necessity rather than preference.
CoStar Group is using Boost, its new Homes.com marketing feature, in an attempt to counter the bans by Zillow and Redfin on listings that are publicly marketed prior to being entered into the MLS.
On Thursday, CoStar Group CEO Andy Florance told Inman News that Boost will be free for listings impacted by the Zillow and Redfin bans.
Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper.
Despite the buzz around being acquired by Rocket Companies, the first quarter of 2025 was a rough one for Redfin.
In a document filed with the Securities and Exchange Commission (SEC) on Tuesday, Redfin announced that it recorded $221.0 million in revenue in Q1 2025, down 2% annually, while its net loss for the quarter came in at $92.5 million, up from a net loss of $66.8 million in Q1 2024.