Redfin shares down nearly 7% on real-estate market. We learn today shares of Redfin Corp. RDFN, +2.07% fell nearly 7% late Thursday after real-estate brokerage quarterly expectations but forecast slower revenue growth in quarter. Redfin said it earned $3.2 million, or 4 cents share, compared $4.3 million in year-ago period. Revenue increased 36% year-over-year to $142.6 million, compared $105 million year ago. Analysts polled FactSet had expected earnings of 2 cents share on sales of $139 million.

“We’re now forecasting slower revenue growth for the quarter based on an unexpected drop in Redfin’s bookings growth in the past weeks, slowing traffic growth in weakening real estate market,” Chief Executive Glenn Kelman said a post-results conference call. Redfin called for -quarter revenue between $137.1 million and $141.3 million. The analysts surveyed FactSet forecast revenue of $141.5 million.

In a separate press , Redfin said it has deepened its investment in Redfin Now, where the homes , expanding the program to a third market, Orange County, Calif. Redfin had piloted Redfin Now in California’s Inland Empire in January 2017 and expanded it to San Diego in June of last year. Redfin shares ended the regular session up 2.1%.

to CNBC’s Diana Olick reports mortgage rates are the highest in more than 7 years, however, the market is still strong today some negative trends are rising and must attention to every real estate investor to avoid to lose money if the  real estate market down in the . Because after the booming for last decade, some area is becoming saturated special in California and the surrounding area.