Why Redfin Stock Surged This Week

Joe Tenebruso, The Motley Fool

January 28, 2023 at 6:20 p.m.·2 min read

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."

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