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Why Redfin Stock Fell 29% Last Month

Why Redfin Stock Fell 29% Last Month

Shares of digital real-estate broker Redfin (NASDAQ: RDFN) fell 28.7% in September, according to data provided by S&P Global Market Intelligence. After ballooning over the last couple of years, housing prices are starting to drop and the market is cooling. On Sept. 12, DA Davidson analyst Tom White lowered his price target for Redfin stock from $13.50 per share to just $9.50 per share.