Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 67

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 67
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 7% for a 30-year conventional fixed-rate mortgage (according to Freddie Mac), high inflation, a tight housing supply, and declines in home ownership affordability. The decline in closed homesale transactions has been offset, in part, by rising average homesale prices, which increased 15% from December 2021 to December 2024, according to NAR data. Difficult macroeconomic conditions continued in the first quarter of 2025 with concerns about geopolitical instability, changes in trade policies, and declining consumer confidence contributing to additional economic uncertainty. 

In the first quarter of 2025, Franchise Group saw a 4% increase in volume, calculated as the number of closed homesale sides multiplied by the average homesale price, and Owned Brokerage Group experienced a 10% increase in volume, both as compared to the same period in prior year. The positive volume in the first quarter of 2025 was driven entirely by price at both Franchise Group and Owned Brokerage Group. 

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Specifically, the number of closed homesale sides for Franchise Group decreased by 5% in the first quarter of 2025 compared to the first quarter of 2024, while the average homesale price increased by 10%. Similarly, Owned Brokerage Group reported a 2% decrease in closed homesale sides in the first quarter of 2025 compared to the first quarter of 2024, while the average homesale price increased 13%.

The graphic below shows the percentage change in combined volume for the Company by quarter since 2023 as compared with the same period in the prior year, demonstrating that volume growth has been driven almost entirely by increasing average homesale price:

For the first quarter of 2025, NAR reported that existing homesale transactions decreased 2% as compared to the same period in 2024. Fannie Mae, as of their most recently released forecast, is forecasting existing homesale transactions in 2025 to increase 3% as compared to full year 2024 to 4.19 million. The MD&A included in our 2024 Form 10-K includes further details about the macroeconomic and competitive factors impacting our business. 

Cost Savings. During the first quarter of 2025, we realized cost savings of $14 million of which approximately half related to specific restructuring activities.

Matters that Impact the Functioning of the U.S. Residential Brokerage Industry and our Business. As discussed in our 2024 Form 10-K, mandatory industry rules and