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Why Redfin Stock Surged This Week

TheMotleyFool

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Why Redfin Stock Surged This Week: https://g.foolcdn.com/editorial/images/718435/real-estate-gettyimages-491810286.jpg

Shares of Redfin (NASDAQ: RDFN) jumped 17.8% this past week, according to data from S&P Global Market Intelligence, after CEO Glenn Kelman provided some encouraging commentary on the state of the housing market.

After correctly warning last March that the residential real estate industry was peaking, Kelman explained in a series of tweets on Wednesday why the housing market appeared to be strengthening.

1 of 16: On 3.15.22, we said housing was "cresting," and that it was "crazy for demand to be so strong in the midst of war, market volatility & inflation." The market worsened each month through November. Now we believe the market, while still fragile, is recovering. Here's why!

Source Fool.com

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