Redfin Starts Bringing Back Furloughed Employees on Heavy Home Buying Demand
Online real estate broker Redfin (NASDAQ: RDFN) has started to repopulate its employee ranks. The company revealed in its latest weekly business update that it has returned around 350 workers who were furloughed in early April, in the wake of the initial stages of the global SARS-CoV-2 coronavirus outbreak. At the time, Redfin put approximately 1,000 of its employees on furlough.
Redfin is making these moves because of what it terms a "rapid rise" in demand for purchasing homes. The company's proprietary Homebuyer Demand Index indicates that in the week of May 17 this rise was 16.5% higher (on a seasonally adjusted basis) than in the pre-coronavirus period.
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Source Fool.com
