SEATTLE — Redfin is once again cutting jobs as the housing market cools.
The Seattle-based brokerage and listing site on Tuesday laid off 201 people, or about 4 percent of Redfin’s employees. The company cited the downturn in the housing market and “economic uncertainty.”
The cuts are the latest to hit Seattle’s real estate industry since interest rate hikes began to slow the market last summer. Redfin laid off 500 employees last summer and nearly 900 workers in November, including 75 in Washington.
The market continues to lag: In King County last month, the median home price was down 10 percent from March 2022 and the number of pending home sales was down 33 percent.
Redfin declined to say how many laid-off employees worked in Washington. The company said layoffs affected “limited groups, primarily real estate support.” In LinkedIn posts, employees working in recruiting, training, sales and support roles said they were laid off.
