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Report: Renters Need to Earn $63,680 to Afford a Typical Apartment

Report: Renters Need to Earn $63,680 to Afford a Typical Apartment

by Phil Hall | Jan 22, 2025 | Current News & Events, Market Snapshot, Real Estate News, U.S. Housing Market, WRE News Exclusive

Renters need to earn $63,680 to afford the median asking rent ($1,592) for an apartment, according to a data report from Redfin (NASDAQ: RDFN). This marks the lowest amount needed for rental housing occupancy since March 2022, as well as a 0.4% year-over-year decline...
New Data Finds Home Prices Still Rising While Rents Continue to Fall

New Data Finds Home Prices Still Rising While Rents Continue to Fall

by Phil Hall | Jan 21, 2025 | Current News & Events, Market Snapshot, Real Estate News, U.S. Housing Market, WRE News Exclusive

Two new data reports have determined home prices are continuing to rise while rental housing costs are still in decline. Redfin (NASDAQ: RDFN) reported home prices rose from one year earlier in December across all 50 of the most populous metropolitan areas – the first...
State Farm, in a Reversal, to Renew Los Angeles County Homeowner Policies

State Farm, in a Reversal, to Renew Los Angeles County Homeowner Policies

by Phil Hall | Jan 20, 2025 | Current News & Events, Industry Updates, Market Snapshot, Real Estate News, WRE News Exclusive

In the wake of the ongoing wildfires crisis, State Farm has temporarily halted its homeowner non-renewal policies in Los Angeles County. USA Today reports this reversal of corporate strategy will only apply to residents whose policies had not lapsed by Jan. 7, when...
Former Redfin Executive Adam Wiener Becomes President at Lower

Former Redfin Executive Adam Wiener Becomes President at Lower

by Phil Hall | Jan 15, 2025 | Current News & Events, Market Snapshot, Real Estate News, WRE News Exclusive

Lower, the Columbus, Ohio-based digital home finance company, has hired Adam Wiener as its new president. According to the company, Wiener will lead Lower’s technology, marketing, data science, and direct-to-consumer sales organizations while focusing on growing...
Redfin Lays Off 46 Employees

Redfin Lays Off 46 Employees

by Phil Hall | Jan 10, 2025 | Current News & Events, Market Snapshot, Real Estate News, WRE News Exclusive

Redfin (NASDAQ: RDFN) laid off 46 employees in a new round of job cuts. The Seattle-headquartered company, which employs more than 4,000 people, confirmed the layoffs in a statement to GeekWire, explaining the impacted employees were “primarily managers in our...
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