Nationwide housing recovery’s here, Realogy CEO Richard Smith says: VIDEO

New York /
Apr.April 19, 2012 11:30 AM


Richard Smith, CEO of Realogy, parent company of the Corcoran Group, Citi Habitats and Sotheby’s International, told Lou Dobbs yesterday what the most recent National Association of Realtors existing home sales data, released today, reveals. Smith says the recovery is in full force, but that when all the real estate-owned assets hit the market, after the foreclosure settlement is completely finalized, things will change, in the Fox News video above.

But nonetheless a housing recovery is in full swing, Smith said. “We have demand and price will follow,” Smith said. The housing recovery is in full swing, even though it may see some fits and starts. “It’s not so efficient that it is going to be a straight upward-bound line.”

The NAR data shows that existing-home sales were down in March but were higher year-over-year. “Inventory tightened and home prices are showing further signs of stabilizing,” the report says.

For instance, in Miami, Smith said, there are some neighborhoods where there are only weeks of inventory, and homes are closing within days of being listed.


Related Articles

arrow_forward_ios
Redfin CEO Glenn Kelman, Compass CEO Robert Reffkin and eXp CEO Jason Gesing. (Getty, Redfin, eXp)
Compass, eXp rise in Real Trends’ annual brokerage rankings
Compass, eXp rise in Real Trends’ annual brokerage rankings
Realogy CEO Ryan Schneider
Realogy’s revenue hits $6.2B after housing rebound
Realogy’s revenue hits $6.2B after housing rebound
Compass CEO Robert Reffkin and Realogy CEO Ryan Schneider (Reffkin via Getty Images;/Illustration by Kevin Rebong for The Real Deal)
Compass accuses Realogy of lying, cheating and stealing
Compass accuses Realogy of lying, cheating and stealing
Realogy CEO Ryan Schneider (iStock)
Realogy’s iBuying program expands after pausing in spring
Realogy’s iBuying program expands after pausing in spring
The Corcoran Group founder Barbara Corcoran (Getty)
Extortion, 9/11 and a toy gun: The story behind Barbara Corcoran’s brokerage sale
Extortion, 9/11 and a toy gun: The story behind Barbara Corcoran’s brokerage sale
Realogy CEO Ryan Schneider 
Realogy profit surges to $98M as sales rebound
Realogy profit surges to $98M as sales rebound
Thomas Oberdorf, CEO of Sirva, and Ryan Schneider, CEO & President of Realogy (Credit: Jhila Farzaneh)
Realogy settled part of its $400M Cartus lawsuit. Now what?
Realogy settled part of its $400M Cartus lawsuit. Now what?
Realogy CEO Ryan Schneider (iStock)
Realogy’s Q2 profits plunge after “unprecedented” drop in sales
Realogy’s Q2 profits plunge after “unprecedented” drop in sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...