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Realogy transaction volume up 7% year-over-year

The franchisor group increased both its transaction sides and sales price
  • Overall revenue for Realogy in Q1 was $1.13 billion, up 7 percent year-over-year.
  • The company experienced a 3-percent increase in closed sales sides and average sale price, which is at the lower end of their previous projections. Issues with low inventory and a competitive bidding market contributed to those numbers.
  • Despite inventory issues, Realogy remains focused and optimistic about Q2 and the years ahead.

Realogy expected its transaction volume to increase between 6 percent and 9 percent in the first quarter of 2016 -- and the company hit that target, reporting a 7 percent transaction volume increase for Q1 this morning. However, the sale sides and sales price increases were both on the low end of Realogy's projections. "Based on the company's closed and open sales activity in January and February, Realogy expects first quarter home sale transaction sides to be up 3 percent to 5 percent year-over-year and average home sale price to increase 3 percent to 4 percent on a company-wide basis," stated the company in its Q4 2015 earnings press release in February. Closed sale sides and average sale price did both increase by 3 percent. Overall revenue for the company in Q1 was $1.13 billion, up 7 percent year-over-year. Total expenses were 1.20 billion, also about a 7 percent year-over-year increase. The company reported a net loss of $42 million in Q1. Inventory c...