Redfin’s Glenn Kelman warns of market “volatility” and “slowdown” ahead

Days after Zillow took a beating for lowering its 2018 revenue projection, Redfin scaled back its own third-quarter forecast, citing “volatility” and a “significant slowdown” in recent weeks. The warning came despite growth in Redfin’s second-quarter revenue, which rose 36 percent year-over-year to $142.6 million. Redfin’s net income for the quarter was $3.2 million, compared to $4.3 million during the second quarter of 2017. But CEO Glenn Kelman cautioned investors that the market was likely […]

Source: Real Estate

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