Redfin CEO says the booming Covid housing market can get even hotter

"If we see people get more comfortable letting others into their home, we're going to see more inventory on the market, and that's what will drive sales volume," Glenn Kelman said on"Today, we are definitely inventory-constrained. There aren't enough homes for people to buy."

Home sales have been a point of economic strength despite the significant damage caused by the pandemic, driven in part by theRedfin's total revenue for the first nine months of 2020 is up 17.4% compared with the same period last year. Since its March low, Redfin's stock is up more than 400%. Additionally, the"Every week I think it can't get crazier, it gets crazier," Kelman said of the housing market. Still, he acknowledged the heat cannot be sustained infinitely.

"We know, though, this is a cyclical business. There's going to be a bust if there's a boom," Kelman added. "It's just a matter of when. We don't think it will happen soon."

pump up that irrational exuberance overinflated housing bubble.

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