Trending News: May 10, 2023

Q1 earnings reports show losses for Redfin, Anywhere, and Zillow, plus the latest jobs report sees the lowest unemployment rate since 1953…what will this mean for the Fed?

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Show Notes

Redfin revenue falls 45% in first 3 months of 2023: Redfin’s Q1 revenue declined 45% year over year to $325.7M, as gross profits from its real estate services took a tumble amid a harsh housing market. Read more

Anywhere shares seesaw after company reports $138M loss in Q1: The brokerage giant spooked investors with its latest earnings report, in which 1st-quarter revenues were down 31% year over year.. Read more

Zillow begins ‘critical’ year with mounting losses, falling Q1 revenue: Zillow brought in $469M in revenue, according to an earnings call Wednesday, falling 13% from the $536M it brought in a year earlier during a period that preceded the rate hikes and sluggish sales. Read more

Will strong job growth upset the Fed’s plans? The labor market added 253,000 jobs in April. Read more

Music by: Gloria Tells from Epidemic Sound


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