Cheaper To Buy A Home Rather Than Rent? Not Anymore
Portfolio Pulse from AJ Fabino
A recent study by Redfin Corp (NASDAQ:RDFN) reveals that it is now more costly to buy a home than to rent one in all but four major U.S. metros. The trend is attributed to stagnating home values in outlier metros, and the future direction of mortgage rates will determine the possibility of a shift back to a more balanced housing market.
May 23, 2023 | 5:14 pm
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Redfin's study showing higher costs of buying a home compared to renting in most major U.S. metros may impact the company's stock price in the short term.
The study conducted by Redfin reveals a shift in the housing market, which may impact the company's stock price in the short term. However, the future direction of mortgage rates and the possibility of a shift back to a more balanced market will determine the long-term impact on Redfin's stock price.
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