Zillow and Redfin Announce Layoffs Amid Real Estate Tech Slowdown
In a shocking turn of events, major real estate tech giants Zillow and Redfin are laying off employees, citing challenging market conditions in January 2025. With mortgage rates stubbornly above 7%, the proptech sector is feeling the squeeze. This development follows recent layoffs across the tech industry, highlighting the broader economic pressures at play. Public sentiment remains critical as these companies navigate turbulent economic waters and reconsider business models, like Redfin's controversial new commission-based approach.
Jan 17