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Wells Fargo reports that home sales in January reached 4.7 million, only slightly above post-Great Recession levels, primarily due to high home prices and mortgage rates. The ongoing affordability crisis, exacerbated by a significant shortfall of available homes, is expected to keep sales weak for the foreseeable future. Despite some easing in mortgage rates, the average monthly payment has more than doubled in five years, leading to a housing market that resembles a recession despite a booming economy.
Rocket Companies has announced its acquisition of Seattle-based real estate brokerage Redfin in an all-stock deal valued at $1.75 billion, offering Redfin shareholders a 63% premium. The merger aims to integrate Rocket's mortgage services with Redfin's extensive real estate network, which attracts 50 million monthly visitors. The deal, pending shareholder and regulatory approval, is expected to close by Q3 2025, with Redfin CEO Glenn Kelman remaining in his position under Rocket's leadership.
Rocket Companies has announced its acquisition of Seattle-based real estate brokerage Redfin in an all-stock deal valued at $1.75 billion, offering Redfin shareholders a 63% premium. The merger aims to integrate Rocket's mortgage services with Redfin's extensive real estate network, which attracts 50 million monthly visitors. The deal, pending shareholder and regulatory approval, is expected to close by Q3 2025, with Redfin CEO Glenn Kelman remaining in his position under Rocket's leadership.
Glenn Kelman
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home sales struggle amid high prices and mortgage rates resembling past recession levels
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Wells Fargo & Company
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18:06 24.03.2025
rocket companies acquires redfin in 1.75 billion all stock deal
03:30 11.03.2025
rocket companies acquires redfin in 1.75 billion all stock deal
03:30 11.03.2025
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