Company: HOUS
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001398987-25-000067
Chunk: 93

Company: Anywhere Real Estate Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 93
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 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 practices have drawn increasing scrutiny, controversy and criticism, including from various industry participants as well as regulators, as an outgrowth of the industry antitrust litigation. 

One of the mandatory practices is commonly known as the Clear Cooperation Policy. NAR and its affiliated multiple listing services (“MLSs”) require a listing broker to submit a listing to the MLSs for cooperation with other MLS participants generally within one business day of marketing a property publicly. What constitutes public marketing may vary from MLS to MLS. Exclusives are an exception to the Clear Cooperation Policy. Both the policy and the exception have been the subject of significant debate.

Exclusive, private, or offline listings refer to real estate properties that are for sale but not listed on the MLSs or are otherwise only accessible to certain real estate agents and brokers.

In March 2025, NAR announced its decision to maintain the Clear Cooperation Policy while also introducing a new exemption that allows home sellers to delay the syndication of their listing on the Internet Data Exchange ("IDX") for a period of time. The manner of implementing this new exemption must be done by September 30, 2025 and is