Redfin Ends iBuying Program

Discount brokerage Redfin Corp. is suspending its instant home-buying program amid economic turmoil sparked by the coronavirus pandemic. The Seattle-based firm, led by CEO Glenn Kelman, made the announcement Wednesday, according to the Wall Street Journal. It had stopped buying ads for the program earlier this month. Like other iBuyers, RedfinNow used an algorithm to buy homes, before renovating them and quickly selling them for a profit.