Why Redfin Stock Was Climbing Today
Shares of Redfin (NASDAQ: RDFN) rose as the online real-estate brokerage benefited from continuing signs that the housing market could be at the early stages of a recovery, following an extended slump after the height of the pandemic.
Redfin said supply is improving in a report this morning, and RH, the home-furnishings company formerly known as Restoration Hardware, gave better-than-expected guidance for 2024, indicating that it was betting on a recovery in the housing market.
As of 11:27 a.m. ET, Redfin stock was up 8.8% and had gained as much as 10.5% on the day. Several of its peers also made solid gains, showing broader tailwinds in the real estate industry.
Source Fool.com
Restoration Hardware Hldgs Inc Stock
With 10 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.