Categories
Make Money From Home

A pivotal earning season is beginning. Here’s what to know – Inman

In a shifting real estate market, the guidance and expertise that Inman imparts are never more valuable. Whether at our events, or with our daily news coverage and how-to journalism, we’re here to help you build your business, ad…….

In a shifting real estate market, the guidance and expertise that Inman imparts are never more valuable. Whether at our events, or with our daily news coverage and how-to journalism, we’re here to help you build your business, adopt the right tools — and make money. Join us in person in Las Vegas at Connect, and utilize your Select subscription for all the information you need to make the right decisions. When the waters get choppy, trust Inman to help you navigate.

At long last, the moment of truth has arrived.

For the last two-and-a-half years the real estate industry has been holding its breath. When the coronavirus pandemic arrived on U.S. shores it briefly seemed like the sky was falling and the market would crash. Things did briefly slow down, but of course, they then picked right back up. In 2020 and 2021, many agents with an established roster of clients had the best years of their careers.

But in conversations over that period many agents also mentioned a sense that something would eventually change. Though the specific theories varied, industry pros often pointed out that real estate is cyclical. Eventually, markets always shift.

And now that shift has arrived. Thanks to an unprecedented spike in mortgage rates earlier this year, demand has cooled considerably, price appreciation has slowed way down, homes are sitting on the market longer and the relentless boom times of last year are for some a fading memory.

It’s against that backdrop that all the major, publicly-traded real estate companies are beginning to report their latest earnings. Earnings are always worth watching but it’s hard to recall any batch of reports that will be more pivotal. That’s because these latest reports will reveal earnings from the second quarter of this year, which happens to be when the market shift was really coming into full force.

The reports also come as Inman Connect Las Vegas unfolds, meaning many leaders and fans of the companies will all be together in the same place. It’s a recipe for buzz.

Many or most companies are likely going to report drops in revenue and profit given the realities of the market. But more specifically this season will offer insights into which are preparing for tougher times and which might flail.

Here’s when the major real estate firms are reporting their earnings and what you need to know:

Anywhere, formerly Realogy reported its earnings on July 28 and revealed that its revenue during the second quarter of 2022 declined 6 percent year over year to $2.1 billion. Among other things the company saw lower transaction volume, and CEO Ryan Schneider ultimately attributed the drop in revenue to “…….

Source: https://www.inman.com/2022/08/01/a-pivotal-earning-season-is-beginning-heres-what-to-know/

Leave a Reply

Your email address will not be published.