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Search resuls for: "Glenn Kelman"


25 mentions found


☆ Redfin CEO: Housing market will do a little bit better through the rest of the year
  + stars: | 2024-05-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRedfin CEO: Housing market will do a little bit better through the rest of the yearRedfin CEO Glenn Kelman joins CNBC's 'Money Movers' to discuss the housing market, rental inflation, a new wave of young home buyers, and more.
Persons: Glenn Kelman, CNBC's Organizations: Housing
☆ Housing has hit rock bottom, says Redfin CEO Glenn Kelman
  + stars: | 2024-05-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing has hit rock bottom, says Redfin CEO Glenn KelmanRedfin CEO Glenn Kelman joins 'Squawk on the Street' to discuss earnings, the state of housing, and interest rates' impact on home sales.
Persons: Glenn Kelman Organizations: Housing
☆ Redfin CEO on NAR settlement: People should have a voice in how much a real estate agent gets paid
  + stars: | 2024-03-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRedfin CEO on NAR settlement: People should have a voice in how much a real estate agent gets paidCNBC’s Diana Olick and Redfin CEO Glenn Kelman joins 'Squawk Box' to discuss the legal settlement by the National Association of Realtors, the impact of the settlement on the home buying process, and more.
Persons: Diana Olick, Glenn Kelman Organizations: National Association of Realtors
☆ Redfin CEO reacts to NAR's $418 million commission lawsuits settlement
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRedfin CEO reacts to NAR's $418 million commission lawsuits settlementRedfin CEO Glenn Kelman joins 'The Exchange' with CNBC's Diana Olick to discuss the implications of the National Association of Realtors' settlement on the real estate industry, how the settlement could affect Redfin's business, and more.
Persons: Glenn Kelman, Diana Olick Organizations: National Association of Realtors
☆ Home prices are poised to drop as the frozen housing market thaws, 2 top experts say
  + stars: | 2023-11-24 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +3 min
Price drops may be needed to thaw the housing market, which could take years, Zandi said. Kelman expects home prices to drop next year, as listings are up and sellers are cutting prices. AdvertisementHouse prices may be headed lower, dealing a blow to sellers but providing relief to buyers, two experts say. The housing market ground to a halt this year, as the Federal Reserve's inflation-fighting hikes to interest rates have boosted mortgage rates to two-decade highs. "I don't expect the housing market to come roaring back here, certainly not in 2024," he said.
Persons: Mark Zandi, Glenn Kelman, Price, Zandi, Kelman, —, Morgan Stanley's, there's, we've, Redfin's Kelman Organizations: Service, Yahoo Finance, Fox
☆ The rise of the McMansion: 11 charts show just how much bigger and fancier American houses have gotten since the 1970s
  + stars: | 2023-11-07 | by ( Noah Sheidlower | ) www.businessinsider.com   time to read: +5 min
Data on the characteristics of newly constructed homes for 2022, released in June by the Census Bureau, revealed homes continued to get bigger after shrinking from 2015 to 2020. A higher share of four-bedroom houses were built, most constructed with air conditioning, and more houses are doing away with fireplaces. In 2022, nearly half of all homes constructed had four bedrooms, compared to two-bedroom homes at 9%. Houses have remained relatively the same height, with a slightly higher percentage of one-story homes and slightly fewer percentage of two-story homes compared to 10 years ago. The median are now comes in at around 2,300 square feet for houses built in 2022.
Persons: Goldman Sachs, —, Glenn Kelman, Realtor.com, it's, Brick Organizations: Service, Census, Myrtle Locations: Conway, Myrtle Beach, South Carolina, Las Vegas, Henderson, Paradise, Stockton , CA
☆ How the cost of homebuying and selling will change after landmark court loss over real estate commissions
  + stars: | 2023-11-07 | by ( Cheryl Winokur Munk | ) www.cnbc.com   time to read: +4 min
A recent jury verdict against the National Association of Realtors and large residential brokerages could upend the residential real estate industry. Here's what real estate agents, homebuyers and sellers need to know about potential changes in residential real estate economics. A bad time for bad news in real estateThe jury verdict comes at a time when many real estate agents are already feeling a pinch. At a time when home sales are already under pressure, "this lawsuit is just another punch in the gut for real estate franchises," said Bill Gross, a self-employed real estate broker associate in California with eXp Realty. Lawsuits focused on fees reinforce the general trend of trying to lower fees in the real estate market, Schipani said.
Persons: Max, Mike DelPrete, Bill Gross, there's, Keefe, Ryan Tomasello, Gilbert J, Schipani, we've, Glenn Kelman Organizations: National Association of Realtors, NAR, realtors, Max Holdings, Federal, University of Colorado Boulder, eXp Realty, Tempus Fugit, Compass Locations: Missouri, Kansas City, St, Louis, Springfield, Columbia, U.S, California
☆ We've seen the most home price cuts since 2015, says Redfin CEO Glenn Kelman
  + stars: | 2023-11-03 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've seen the most home price cuts since 2015, says Redfin CEO Glenn KelmanGlenn Kelman, Redfin CEO, joins 'Closing Bell Overtime' to talk quarterly earnings, the U.S. housing market, cost cutting measures and more.
Persons: Glenn Kelman Glenn Kelman, Redfin Locations: U.S
☆ Shares of Elliman, other realtors fall after $1.78 billion broker commission verdict
  + stars: | 2023-11-01 | by ( Chibuike Oguh Jonathan Stempel | Chibuike Oguh | Jonathan Stempel | ) www.reuters.com   time to read: +3 min
The verdict could upend decades-old practices that have allowed real estate agents to boost commissions by forcing sellers to pay commissions to buyers' real estate brokers. Representatives of Compass and Douglas Elliman declined to comment. BTIG analyst Soham Bhonsle in an investor note said the fact that Douglas Elliman, Redfin, Compass and eXp were being sued by the same lawyers was a negative for their stocks. Zillow (ZG.O) shares initially fell 0.33% after brokerage Jefferies cut its price target, citing the impact of Tuesday's verdict. While Zillow is not a defendant in either lawsuit, Jefferies said Tuesday's verdict "increases the chances of a ban on commission sharing and Zillow having to pivot the business model."
Persons: Douglas, Mike Segar, Douglas Elliman, Berkshire Hathaway's, eXp, Glenn Kelman, Soham Bhonsle, Jefferies, Zillow, HomeServices, Chibuike Oguh, Jonathan Stempel, Michelle Price, Bill Berkrot, Matthew Lewis Organizations: REUTERS, World Holdings, National Association of Realtors, Compass, NAR, Thomson Locations: Manhattan's, New York City , New York, U.S, Kansas City , Missouri, Berkshire, America, Western Missouri, Missouri , Kansas, Illinois, New York
☆ Home buyers are finally seeing a light at the end of the tunnel, but it is going to be painful for homeowners and sellers
  + stars: | 2023-10-10 | by ( Cork Gaines | ) www.businessinsider.com   time to read: +6 min
There is no end in sight for high mortgage rates, and sellers are dropping prices. AdvertisementAdvertisementThe housing market is in an ugly place right now for buyers and while things may be stabilizing, that just means pressure will likely shift from buyers to sellers. Redfin CEO Glenn Kelman made headlines in recent weeks with several interviews where he said the housing market had hit "rock bottom." "The housing market is just taking a beating because affordability is at a four-decade low. While the market might not get worse for buyers, sellers are not yet at rock bottom after enjoying years of rising home values.
Persons: —, Glenn Kelman, Kelman, ZIlloq, Paul Bradbury, Zillow, Jeff Tucker, Redfin, Jeremy Grantham, Grantham, David Rosenberg, Rosenberg, Merrill Lynch, Luis M, Alvarez, Tom Barkin, Alou Diarra, Getty Organizations: Service, CNBC, Getty, Cleveland Fed, Altos Research, Rosenberg Research, North, AP, Richmond, Fed Locations: North American
☆ The US housing market is starting to flash a few rays of sunshine for homebuyers
  + stars: | 2023-09-30 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +4 min
The US housing market is starting to flash a few rays of sunshine for prospective homebuyers. It comes as the housing market has been stuck, with sales activity stalling as high rates discourage buying and selling. In fact, the situation is so bad that Redfin CEO Glenn Kelman recently declared the market has hit "rock bottom." More precisely, the 30-year mortgage rate hit the highest level in 23 years, climbing further above 7%. In the existing home market, sellers are growing open to negotiating about the asking price, or offering concessions, like funding home repairs or a mortgage-rate buydown.
Persons: —, Glenn Kelman, Altos, Redfin, David Palmer Organizations: Altos Research, Service
☆ Pending home sales plunged in August as 2-decade high mortgage rates continue to squeeze both buyers and sellers
  + stars: | 2023-09-28 | by ( Aruni Soni | ) www.businessinsider.com   time to read: +2 min
Pending home sales slipped 7.1% in August in another sign of the housing market's slump. Multi-decades high mortgage rates are keeping homebuyers out of the market. AdvertisementAdvertisementPending home sales slipped 7.1% in August compared to July, according to the National Association of Realtors. "Mortgage rates have been rising above 7% since August, which has diminished the pool of home buyers," said Lawrence Yun, NAR chief economist, in the release. Home sales dipped from August across all regions of the country, falling the most in the South, where pending sales recorded a drop of 9%.
Persons: —, Lawrence Yun, Glenn Kelman, NAR's Yun Organizations: Service, National Association of Realtors, NAR
☆ Insider Today: A Google loophole exposed
  + stars: | 2023-09-28 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at how a Google loophole brings advertisements for illegal drugs hosted on defaced government websites to the top of search results. Previously, that wasn't an issue since these web pages never appeared in Google searches because website owners restricted Google from indexing them. AdvertisementAdvertisementThe result is people using internal search functions to create webpages advertising drugs on websites viewed as trustworthy by Google. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.
Persons: —, Jamie Dimon, Tom Brady, Kendall Jenner, Arantza Pena, Insider's Katherine Long, hasn't, Katherine, Paul Sancya, Glenn Kelman, Meta, Dwyane Wade, Victor, Jenny Chang, Rodriguez, ThredUp, Nancy Pelosi, Karlie Kloss, Spike Lee, Nattakorn, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Costco, Tech, Business, Google, Alcohol and Drug Foundation, Conference Board, JPMorgan, NBA, Amazon, Big Tech, Atlantic, ABC, Nike, Accenture Locations: Russia, Ukraine, Washington ,, New York City, San Diego, London, New York
☆ Redfin CEO explains why the housing market is taking a beating
  + stars: | 2023-09-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRedfin CEO explains why the housing market is taking a beatingGlenn Kelman, Redfin CEO, joins 'Squawk on the Street' to discuss how big of an impact the higher mortgage rates are having on the housing industry, whether the Federal Reserve's rate hike path is having the intended effect on home prices, rents, and more.
Persons: Glenn Kelman, Redfin
☆ The housing market is at 'rock bottom,' says Redfin's CEO, as high rates and prices take their toll
  + stars: | 2023-08-17 | by ( Joseph Wilkins | ) www.businessinsider.com   time to read: +2 min
High mortgage rates and price increases have meant fewer property listings. The market has hit "rock bottom," Redfin CEO Glenn Kelman told MarketWatch. Redfin CEO Glenn Kelman says it's hit "rock bottom." Kelman told MarketWatch that higher house prices have played a part in reducing mobility for young people in the US. "Apartments are expensive and houses are expensive, so I think household formation is going to be low," he said.
Persons: Glenn Kelman, it's, Freddie Mac, " Kelman, Kelman Organizations: Service Locations: Wall, Silicon
☆ The sluggish housing market is weighing on Redfin's stock as home sales 'near rock bottom'
  + stars: | 2023-08-04 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
Redfin stock plunged as much as 24% Friday following a downbeat earnings report. "Sales volume is near rock bottom," CEO Glenn Kelman told analysts on Thursday. "Sales volume is near rock bottom," CEO Glenn Kelman told analysts on Thursday. For the third quarter, Redfin sees revenue dropping about 13% to $265 million-$279 million and losses narrowing to $21 million-$30 million from $90 million. Limited home inventory and elevated mortgage rates have kept house hunters sidelined and current homeowners reluctant to move, with many holding on to lower mortgage rates secured in prior years.
Persons: Glenn Kelman, Redfin, Redfin.com, Kelman Organizations: Service Locations: Wall, Silicon, New York, Seattle
☆ Blind and other anonymous forums are 'places of pure misery,' says Redfin's CEO – but also let workers 'speak truth to power'
  + stars: | 2023-07-30 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +3 min
The CEO of real estate brokerage Redfin said anonymous forums are "places of pure misery." "Anonymity lets us slander one another without consequences, but it's also the only way to speak truth to power," Kelman said. "That led us to think there's a need for a third-party forum where people have the freedom to talk honestly about work," Kim said. "I was living there for six months and met with Amazon employees and signed them up in person – that's how we started flying." He also hosted parties and barbecues and invited Amazon workers so Blind could get more signups through word-of-mouth.
Persons: Redfin, Glenn Kelman, they're, Kyum Kim, it's, Kelman, Kim, Andrew Bosworth, Christian Charisius, Redfin didn't Organizations: Service, Meta, Twitter, Microsoft, Google, Korean, Amazon Locations: Wall, Silicon, Korea, California, Seattle
☆ Housing demand remains low but inventory is even lower, says Redfin CEO
  + stars: | 2023-07-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHousing demand remains low but inventory is even lower, says Redfin CEOGlenn Kelman, Redfin CEO, joins 'Squawk on the Street' to discuss what's happening in the real estate market, how long homeowners will try to keep the mortgage rates they already have, and how home buyers are paying for their homes.
Persons: Glenn Kelman, Redfin
☆ Elon Musk said home prices will crater - and it prompted a sharp rebuttal from the CEO of housing giant Redfin
  + stars: | 2023-05-31 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
Elon Musk said this week that home prices will tumble soon, following those of commercial real estate. Redfin's CEO responded, saying the loss of demand for commercial real estate is driving up demand for residential real estate. However, Redfin CEO Glenn Kelman countered his take in a tweet of his own on Tuesday:"But the loss in demand for commercial real estate is what's driving demand for residential real estate. The remote-work boom and waning need for office space has led to many vacant commercial real estate buildings, which Musk's initially referred to. Zillow has said that home prices have already bottomed, while Moody's and Fannie Mae still expect prices to drop further.
Persons: Elon Musk, Glenn Kelman, —, Billionaire Elon Musk, Musk's, Kelman, Zillow, Fannie Mae Organizations: Service, Privacy, Billionaire, Federal
☆ Here's why nobody is willing to sell a home these days
  + stars: | 2023-05-30 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why nobody is willing to sell a home these daysRedfin CEO Glenn Kelman joins 'Squawk on the Street' to discuss the number one issue now for housing, what will be the changing factor for the housing market, and what's happening with home prices.
Persons: Glenn Kelman
☆ Redfin CEO on housing market: Banking crisis has spooked customers
  + stars: | 2023-03-28 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRedfin CEO on housing market: Banking crisis has spooked customersGlenn Kelman, Redfin CEO, joins ‘Closing Bell: Overtime’ to discuss why home prices are falling despite inventories being low.
☆ The problem with home-flipping giants
  + stars: | 2023-03-01 | by ( Aj Latrace | ) www.businessinsider.com   time to read: +9 min
Meanwhile, the corporate scalpers of the housing market — companies that buy and relist homes by the thousands without doing much, if any, work on them to make a profit — are struggling. Last week, two of the biggest remaining corporate home-flipping companies, Opendoor and Offerpad, reported dismal earnings, another sign that their business model is incredibly risky. Kelman also said one "problem is that iBuying is a staggering amount of money and risk for a now-uncertain benefit. At its core, the main business model of home-flipping firms doesn't create a ton of immediate value. Opendoor, Offerpad, and other companies that rushed to purchase homes are now discounting the asking prices of those homes to get them off their books.
☆ Inside California's tiny-home takeover
  + stars: | 2023-02-24 | by ( Kelsey Neubauer | ) www.businessinsider.com   time to read: +8 min
For the state with the most dire housing shortage, the move could be a game changer — eventually. As the US grapples with a massive housing shortage, one possible solution is playing out in California right now — and the state may have struck gold. Oregon, Maine, and Nebraska, as well as cities like Miami, have enacted laws similar to California's. There's been opposition to ADUs from homeowners worried about the density of their neighborhoods and sometimes the aesthetics of the structures. Ultimately, the housing shortage could be alleviated, she said.
☆ We're still at half the housing inventory of 2016 through 2019, says Redfin's Glenn Kelman
  + stars: | 2023-02-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're still at half the housing inventory of 2016 through 2019, says Redfin's Glenn KelmanRedfin CEO Glenn Kelman joins Brian Sullivan and the 'CNBC Special: Taking Stock' to discuss housing data and what's really going on in the market right now.
☆ A housing market 'trough' is around the corner and should be a welcome relief to real estate firms like Zillow, a Bank of America analyst says
  + stars: | 2023-01-17 | by ( Alex Nicoll | ) www.businessinsider.com   time to read: +4 min
High mortgage rates and home prices have put the housing market into a deep chill. A Bank of America analyst upgraded real estate stock Zillow from "underperform" to a "buy." A dark cloud is hovering over America's housing market with each week bringing signs of doom and gloom. The rosier view wasn't because of an imminent improvement in the housing market. That's hit Zillow — which earns most of its revenue from lead generation for real estate agents — squarely in the pocket.
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