Housing Market Sign of Recovery #24
The last time I discussed Realogy on these pages, it was to speculate about how soon the company was going to file for bankruptcy.
Fast forward almost four years, and the news is quite different:
“The parent of mortgage brokers Coldwell Banker and Century 21 made a big return to the market Thursday, a stunning comeback for a company that many feared was on death’s door just a few years ago . . . the company raised $1.1 billion by selling shares at $27 apiece in its IPO.”
Realogy’s stock immediately rose 25%, and — even after today’s 200 point sell-off in the Dow Jones — is up some more, to over $36 a share.
Yet another sign that the housing market is healing . . .