Piper says slowing housing market still a ‘headwind’ for Redfin, Zillow

Piper Sandler analyst Thomas Champion noted that U.S. existing home sales declined 35% year-over-year in November with sales of 326,000 and that pricing growth slowed to up 4% year-over-year from high-single digit growth seen in September and October. Champion continues to view a slowing housing market as a "headwind" for Underweight-rated Redfin (RDFN) and Neutral-rated Zillow Group (ZG).