Redfin and Zillow Group financial reports reveal broader housing market trends

The latest financial reports from Zillow Group and Redfin demonstrate ongoing wariness within the U.S. real estate market.

• Both companies expect revenue from key business segments to decline year-over-year in the first quarter as the housing market continues to retrench due in part to rising interest rates brought on by persistent inflation. Read more. 

Small businesses around Amazon’s Seattle headquarters are welcoming the news that the tech giant wants workers back in the office at least three days a week.

• At restaurants, food trucks and inside a dog daycare, the mood was optimistic for owners, managers and workers who have struggled to stay in business during the shift to remote and hybrid work that decimated downtown worker foot traffic. Read more.

Washington state lawmakers are considering legislation to further curb drug prices, but biotech leaders fear the move could quash innovation and curtail availability of some drugs.

• The bill “really sends a question mark as to whether or not the state is committed to the industry and understands how it works,” said Marc Cummings, CEO of the trade group Life Science Washington. Read more.