Redfin Corporation Says Record 8.5% Of U.S. Homes Are Worth $1M Or More Despite High Mortgage Rates Pushing Down Demand
Portfolio Pulse from Benzinga Newsdesk
Redfin Corporation reports that a record 8.5% of U.S. homes are now valued at $1 million or more, despite high mortgage rates reducing demand.
August 16, 2024 | 11:05 am
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Redfin Corporation reports that a record 8.5% of U.S. homes are now valued at $1 million or more, despite high mortgage rates reducing demand.
The increase in high-value homes could indicate a robust segment of the housing market, potentially boosting Redfin's revenue from higher transaction values. However, high mortgage rates may temper overall demand.
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