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Offerpad, one of the nation’s largest iBuyers, was in the black for its third consecutive quarter. The industry disruptor, currently valued at half a billion dollars, logged year-over-year revenue growth of 185%, totaling $1.1 billion. The Arizona-based company reported a net income increase of $11.6 million, or $0.04 per share, up 26% from the previous…

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Despite raking in $606.9 million in revenue, nearly a third more than last year, Seattle-based real estate brokerage Redfin saw gross profits dip by 6% in the second quarter of 2022. Net loss also ballooned from $27.9 million in the second quarter of 2021 to $78.1 million, bringing net loss per share to $0.73. Additionally,…

The post Market Cooldown ‘Won’t Be Enough to Sink’ Redfin, Says CEO as Profits Dip in Q2 appeared first on RISMedia.

Tech-focused, full-service brokerage Fathom beat guidance on revenue this quarter, up 52% to take in $128.2 million, with big increases in its mortgage and tech business, though company executives also announced cost-cutting initiatives and joined a broader chorus across the industry in warning that there will likely be tough times ahead. Agents and transactions were…

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United Real Estate announced today its partnership and the newest member of its national network with United Real Estate | Fortune, based in Great Neck, New York. The move ushers United into New York State and the New York City area for the first time and expands its service footprint to one of the most…

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With the mortgage industry in flux, Rocket Companies Inc., the parent of Rocket Mortgage and several other mortgage and finance companies, felt the sting of a changing lending environment, which showed in its latest earnings report. The Detroit-based company saw a sharp drop in its profits in the second quarter of 2022 after earning $1.4…

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