Cendant lowers real estate expectations

Cendant, corporate parent of brokerages like the Corcoran Group and Sotheby’s International Realty, has announced it has revised downward its estimates for earnings at its new Realogy Corporation spin-of. Cendant made the move because of a slowing U.S. sales market. Realogy will become in June the umbrella company for Cendant’s current real estate holdings. more [WSJ]