What Recession? Redfin Posts Great Sales Numbers Even As Real Estate Market Eases
For many investors (myself included), the subprime loan- and housing bust-induced financial crisis of 2008-09 is still fresh in mind. Memories of the last recession may lead some to steer clear of anything real estate market-related, especially an upstart like Redfin (NASDAQ: RDFN) that relies on home sales activity to drive results. That may especially be the case in years like 2019, when rumblings of a recession have grown to the highest decibel level in a decade.
And yet, despite indications of a slowdown in the housing market, home sales have remained stable in most metropolitan areas, and an initial forecast from mortgage market operator Freddie Mac is calling for more of the same in 2020. That's good news for Redfin. However, no matter which direction the real estate market decides to turn next, this disruptive technologist should continue to do just fine.
Image source: Getty Images.
Source Fool.com
