RE/MAX HOLDINGS, INC. - RMAX STOCK NEWS

RE/MAX's November 2024 Housing Report shows significant year-over-year improvements despite seasonal slowdown. Home sales increased 6.3% compared to November 2023, marking the seventh month in 2024 to outperform its 2023 counterpart. The median sales price reached $429,000, up 5.7% from last year.

Key metrics include: inventory up 25.0% year-over-year but down 4.3% from October; new listings increased 8.5% year-over-year but decreased 23.5% month-over-month; average days on market rose to 47 days; and months' supply of inventory reached 2.9. Buyers paid 99% of asking price.

Notable market leaders include Phoenix with highest new listings growth (+29.8%), Bozeman, MT with highest sales increase (+45.8%), and Hartford, CT with highest close-to-list price ratio (102.8%).

RE/MAX recently hosted the 2024 Elite Retreat in Napa, California, gathering hundreds of top-producing agents for masterminds, panel discussions, and celebrations of their sales success. The event featured insightful sessions on marketing tactics, client retention strategies, and productivity in market slowdowns. Amy Lessinger, President of RE/MAX, emphasized the upcoming opportunities with generational wealth transfer. The retreat included networking events, agent panels led by VP Ben Fairfield, and a keynote speech from American Ninja Warrior Alex Weber focusing on community and personal growth.

RE/MAX Holdings (NYSE: RMAX) has announced its participation in the upcoming Stephens Annual Investment Conference. CEO Erik Carlson and CFO Karri Callahan will represent the company at a Fireside Chat scheduled for Tuesday, November 19, 2024, at 12:00 p.m. CST. The company, which operates RE/MAX, a leading real estate brokerage services franchisor, and Motto Mortgage, the first national mortgage brokerage franchise brand in the U.S., will provide a live webcast of the event. Investors can access both the live stream and replay through the company's investor relations website.

October 2024 showed remarkable housing market activity with home sales increasing 6.7% from September and 8.4% year-over-year. While new listings decreased slightly by 0.7% month-over-month, they surged 14.8% compared to October 2023. The median sale price reached $430,000, marking a 4.9% increase from the previous year.

Notable market highlights include San Antonio's 24.6% year-over-year increase in home sales and Las Vegas leading new listings growth at 40.1%. The average days on market was 42 days, and buyers paid 99% of asking prices. The months' supply of inventory stood at 2.6, with active inventory up 28.4% year-over-year.

RE/MAX Holdings reported Q3 2024 results with total revenue decreasing 3.4% to $78.5 million. The company's Adjusted EBITDA increased 2.0% to $27.3 million, with a margin of 34.8%. Total agent count showed a modest increase of 174 agents (0.1%) to 145,483, though U.S. and Canada combined agent count decreased 4.4%. The company's performance was marked by operational efficiency improvements, despite challenges in the U.S. market where agent count declined 6.5%. Recent hurricanes Helene and Milton are expected to impact Q4 revenue by $1.0-1.5 million due to fee waivers for affected affiliates.

RE/MAX has been ranked #1 among real estate brands on the 2024 Franchise Times Top 400 for the 16th consecutive year, securing the #14 spot overall, up from #15 in 2023. The ranking is based on global systemwide sales. The company maintains its position as the largest real estate franchise network globally, with more than 140,000 sales associates across nearly 9,000 offices in over 110 countries and territories. Earlier this year, RE/MAX was also recognized in the Entrepreneur Franchise 500 ranking for the 40th consecutive year and was inducted into the Franchise 500 Hall of Fame.

RE/MAX celebrated its fourth annual Global RE/MAX Week from October 6-12, 2024, demonstrating the network's worldwide philanthropic impact. The event saw participation from affiliates across more than 40 countries and 22 U.S. states, showcasing community service initiatives through #GlobalREMAXWeek.

Notable activities included RE/MAX Gateway in Northern Virginia contributing 152.5 volunteer hours, Mongolia's affiliates participating in environmental conservation efforts, Canadian offices donating healthy snacks to schools, and Mexican agents supporting cerebral palsy awareness. The initiative highlighted RE/MAX's commitment to community service across its network of over 140,000 agents in more than 110 countries and territories.

The RE/MAX National Housing Report for September 2024 reveals a cooling housing market with increasing inventory. Key findings include:

- Home inventory rose 6.4% from August and 33.6% year-over-year

- New listings increased 9.7% compared to September 2023

- Home sales dropped 13.3% from August, a seasonal norm

- Median sales price decreased 1.4% from August to $429,000

- Year-to-date sales in 2024 have exceeded 2023 levels in five of nine months

- Median sale price has been higher year-over-year for 15 consecutive months

RE/MAX President Amy Lessinger noted the market's resilience, with buyers still paying 99% of asking price. The report also highlights regional variations, with some markets experiencing significant increases in new listings and others seeing declines in sales.

RE/MAX Holdings, Inc. (NYSE: RMAX), parent company of RE/MAX and Motto Mortgage, has announced the release of its third quarter 2024 financial results. The results will be disclosed after market close on Thursday, October 31, 2024. Following this, the company will host a conference call and webcast for interested parties on Friday, November 1, 2024, at 8:30 a.m. Eastern Time.

Participants can join the webcast 10 minutes before the start of the conference call via the Investor Relations website. An archive of the webcast will be available for a time after the call. For those preferring a telephonic version, registration is available in advance at https://registrations.events/direct/Q4I941153. Registered participants will receive dial-in information and unique credentials to join the call.