Trending News: August 9, 2023

We’re diving into the Q2 Earnings Call highlights from eXp, RE/MAX, Redfin and Opendoor - plus - what the labor market’s ‘modest cooling’ in July could signal for the real estate industry.

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Show Notes

Fewer transactions result in falling profits for eXp World Holdings in Q2: eXp’s revenue fell 13 percent from the second quarter of 2022 to $1.2B, and its gross profit decreased 10% to $96.5M. Read more

RE/MAX revenue, US agent count continue decline in second quarter: While the brokerage’s overall head count rose modestly to 144,510 agents in the second quarter, its agent count declined in the US by 6.3%, to 56,987. Read more

Redfin narrows losses amid rough Q2 as it braces for more turbulence: Redfin’s Q2 revenue declined 21% year over year to $275.6M, as gross profits from its real estate services took a tumble amid a harsh housing market. Read more

Opendoor rebounds with profitable Q2 despite steep revenue decline: The iBuyer sold fewer homes and brought in less cash than it did during the same period in 2022, but it still managed to land in the black to the tune of $23M. Read more

The labor market showed signs of modest cooling in July: Total nonfarm payroll employment rose by 187,000 jobs last month. Read more

Barbie movie tops $1bn in global box office ticket sales, breaking record for female directors: Barbie is now the biggest film to be directed by one woman, with director Greta Gerwig supplanting Wonder Woman’s Patty Jenkins. Read more

Gwyneth Paltrow’s Guesthouse Is On Airbnb And Filled With Goop Goodies: She’ll even let you in her passcode-protected wine room. Read more

Music by: Gloria Tells from Epidemic Sound


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