Anywhere Real Estate (HOUS) KBW Virtual Real Estate Finance & Technology Conference summary

Market and industry trends

• Residential real estate remains in a challenging cycle, with unit sales down but prices up due to persistent supply constraints.

• Luxury segment is outperforming, with both unit and price growth, largely immune to interest rates and macro volatility.

• Entry-level homes face the toughest conditions, with the largest price inflation and unit declines, while the middle market sits between luxury and entry-level dynamics.

• Demographics suggest strong future tailwinds, with current sales well below what population growth would indicate as normal.

• No significant buyer resistance to rising prices has emerged, even with higher interest rates; demand continues to outpace supply.

Strategic initiatives and performance

• Outperformed the market in Q1, especially in luxury, with agent recruiting up 30% year-over-year and strong franchisee growth.

• Integrated business model across brokerage, franchise, title, mortgage, and insurance provides a competitive edge and strong economics.

• Reimagine 25 program targets $100 million in cost reductions this year through digitization, automation, and generative AI.

• Technology CapEx increased from $50 million to $80 million to capitalize on AI-driven efficiencies and customer experience improvements.

• Open architecture approach combines in-house development with partnerships and selective M&A to deliver technology solutions to agents and franchisees.

Ancillary services and integration

• National scale in title, mortgage, and insurance enables end-to-end transaction support and strong economics.

• Upward Title JV program expands integrated title services to franchisees, with about 10 JVs launched and plans for more.

• Strategic focus on integrating ancillary services earlier in the transaction process, including pilots to incorporate title and mortgage into buyer agreements.