Debt - (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table presents the carrying amounts and estimated fair values of our convertible senior notes that are not recorded at fair value on our consolidated balance sheets:

	December 31, 2022				December 31, 2021
Issuance	Net Carrying Amount		Estimated Fair Value		Net Carrying Amount		Estimated Fair Value
2023 notes	$	23,431	$	22,147	$	23,280	$	34,487
2025 notes	512,683		309,292		650,783		593,366
2027 notes	565,474		267,398		563,234		467,814

The following table summarizes borrowings under these facilities as of the periods presented:

	December 31, 2022						December 31, 2021
Lender	Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings		Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings
Western Alliance Bank	N/A		N/A		N/A		$	50,000	$	17,089	3.00	%
Texas Capital Bank, N.A.	N/A		N/A		N/A		40,000		11,852		3.01
Flagstar Bank, FSB	N/A		N/A		N/A		25,000		4,102		3.00
City National Bank	75,000		27,288		5.89	%	N/A		N/A		N/A
Comerica Bank	75,000		26,526		6.36	%	N/A		N/A		N/A
Origin Bank	75,000		23,739		5.98	%	N/A		N/A		N/A
M&T Bank	50,000		19,126		6.45	%	N/A		N/A		N/A
Prosperity Bank	100,000		35,856		6.18	%	N/A		N/A		N/A
Republic Bank & Trust Company	75,000		26,636		5.81	%	N/A		N/A		N/A
Wells Fargo Bank, N.A.	100,000		31,338		6.41	%	N/A		N/A		N/A
Total	$	550,000	$	190,509			$	115,000	$	33,043

The following table summarizes borrowings under this facility as of the period presented:

	December 31, 2022						December 31, 2021
Lender	Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings		Borrowing Capacity		Outstanding Borrowings		Weighted-Average Interest Rate on Outstanding Borrowings
Goldman Sachs Bank USA	$	—	$	—	—	%	$	200,000	$	199,781	3.30	%

The following table summarizes the debt issuance costs amortized and interest expense recognized in relation to our RedfinNow Borrower facility:

	Year Ended December 31,
	2022		2021		2020
Debt issuance costs	$	996	$	324	$	619
Interest expense	7,863		3,946		643

Convertible Senior Notes

We have issued convertible senior notes with the following characteristics:

Issuance	Maturity Date	Stated Cash Interest Rate		Effective Interest Rate		First Interest Payment Date	Semi-Annual Interest Payment Dates	Conversion Rate
2023 notes	July 15, 2023	1.75	%	2.45	%	January 15, 2019	January 15; July 15	32.7332
2025 notes	October 15, 2025	—	%	0.42	%	—	—	13.7920
2027 notes	April 1, 2027	0.50	%	0.90	%	October 1, 2021	April 1; October 1	10.6920

The components of the convertible senior notes are as follows:

	December 31, 2022
Issuance	Aggregate Principal Amount		Unamortized Debt Discount		Unamortized Debt Issuance Costs		Net Carrying Amount
2023 notes	$	23,512	$	—	$	81	$	23,431
2025 notes	518,728		—		6,045		512,683
2027 notes	575,000		—		9,526		565,474

	December 31, 2021
Issuance	Aggregate Principal Amount		Unamortized Debt Discount		Unamortized Debt Issuance Costs		Net Carrying Amount
2023 notes	$	23,512	$	—	$	232	$	23,280
2025 notes	661,250		—		10,467		650,783
2027 notes	575,000		—		11,766		563,234

	Year End December 31,
	2022		2021		2020
2023 notes
Contractual interest expense	$	411	$	413	$	2,113
Amortization of debt discount	—		—		4,735
Amortization of debt issuance costs	150		189		623
Total interest expense	$	561	$	602	$	7,471
2025 notes
Contractual interest expense	—		—		—
Amortization of debt discount	—		—		5,693
Amortization of debt issuance costs	2,706		2,760		346
Total interest expense	$	2,706	$	2,760	$	6,039
2027 notes
Contractual interest expense	2,875		2,187		—
Amortization of debt discount	—		—		—
Amortization of debt issuance costs	2,240		1,705		—
Total interest expense	$	5,115	$	3,892	$	—
Total
Contractual interest expense	3,286		2,600		2,113
Amortization of debt discount	—		—		10,428
Amortization of debt issuance costs	5,096		4,654		969
Total interest expense	$	8,382	$	7,254	$	13,510