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In addition, the pandemic pushed up demand for remote services and, hence, one factor that has worked in favor of real estate companies is the rapid adoption of digitalization. A case in point is tech-first real estate company Redfin Corporation (RDFN). RDFN operates a digital real estate marketplace that offers online residential broking services and allows homebuyers to schedule virtual home tours. The company also delivers ancillary services, such as loan origination and title services, to facilitate a speedy process.
On March 31, RDFN had a 1.14% U.S. market share by value. Driven by its unique business model and given the red-hot housing market, shares of RDFN have returned 92.2% over the past year. In fact, the stock registered a 5.2% intraday gain yesterday to close the session at $57.16.
