Rocket Companies buys Redfin to create a one-stop shop for home buyers

Rocket Companies, owner of Rocket Mortgage, Rocket Money (formerly Truebill), and Rocket Loans, is buying real estate listing platform Redfin in an all-stock transaction valued at $1.75 billion, the companies announced yesterday. The deal attaching a Redfin to a Rocket is expected to be completed in Q2 or Q3 of 2025.

All for one, one for all

With the move, Rocket can now plug Redfin, which boasts 50+ million monthly website visitors and a network of 2,200+ real estate brokers spread across 42 states, into its existing web of mortgage origination, title, and servicing companies – creating a single platform that can potentially streamline an often time-consuming and burdensome process for homebuyers.

Zillow wants to do something similar. In 2022, the real-estate tech company said it was working to create a “housing super app.” It‘s since rolled out a smoother process for buyers to connect with agents, home tours, and mortgage financing in 40+ markets, the Wall Street Journal reports.

🏡 Zoom out: The push for vertical integration comes as home sales in 2024 fell to their lowest level since 1995 for the second straight year. And don’t expect much growth this year – JPMorgan expects the US housing market to “remain largely frozen through 2025.”