Últimas noticias sobre eXp World Holdings (NASDAQ:EXPI) Bolsa

eXp World Holdings

eXp World Holdings Inc is a cloud-based residential real estate company. The company owns and operates a cloud-based real estate brokerage and a technology platform business that develops and uses immersive technologies that help businesses increase their effectiveness and reduce costs from operating in traditional brick-and-mortar office spaces. Its business categories include Real Estate Brokerage, Technology Products and Services, Title, Escrow, Settlement Services, and Mortgage Brokerage Services. The company mainly operates in the United States and Canada, and it also has operations in the United Kingdom, Australia, South Africa, France, India, Portugal, and Mexico, among others.

eXp World Holdings Inc

Expion360 Inc

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EXPI

eXp World Holdings Reaches $34M Nationwide Settlement Agreement Resolving Class Action Lawsuit, Commits To Business Practice Changes Including Transparent Compensation Disclosure And Training Initiatives; Settlement Pending Court Approval

Global leader in CRE information, analytics and news, partners with a national real estate brokerage to expand growing commercial platform and best serve brokers and clients
CoStar Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced an enterprise agreement with eXp Commercial, a nationwide virtual commercial real estate brokerage and subsidiary of eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>), to provide its advisors with access to the leading global real estate data and analytics platform.
With this partnership, CoStar Group will equip eXp Commercial advisors with unrivaled insights into national property values, market conditions and availability. eXp Commercial's advisors will now have access to the largest and most comprehensive global commercial real estate data and analytics platform, with insights on properties and spaces across office, industrial, retail, multifamily, hotel and life sciences nationwide.

CSGP

CoStar Group Partners with eXp Commercial To Provide Its Advisors With Access To The Leading Global Real Estate Data And Analytics Platform

eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) reported quarterly earnings of $0.05 per share which met the analyst consensus estimate. This is a 400 percent increase over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $1.23 billion which missed the analyst consensus estimate of $1.27 billion by 3.44 percent. This is a 1.33 percent increase over sales of $1.22 billion the same period last year.

Earnings

Earnings Misses

eXp World Holdings Q3 Adj $0.05, Inline, Sales $1.23B Miss $1.27B Estimate

eXp Realty&#xAE;, the largest independent global real estate brokerage on the planet and a core subsidiary of eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>), is thrilled to announce its expansion into three vibrant markets — Türkiye, Peru, and Egypt, set for 2025. In a bold move to strengthen its global footprint, eXp Realty is bringing its agent-centric model and innovative cloud-based platform to some of the world's most dynamic real estate markets.
Once this expansion is complete, eXp Realty will operate in 27 countries, empowering thousands of agents across the globe with its unique value propositions. The model is designed for success in both residential and commercial real estate, and underscores eXp's unwavering commitment to equip its agents with the tools and platform they need to thrive in real estate's evolving landscape.

Global

eXp Realty Announces Its Expansion Into Three New Markets - Türkiye, Peru, And Egypt, Set For 2025

eXp Realty Forms Strategic Alliance With Sisu To Enhance Business Intelligence For Agents Across North America, Offering Real-Time Insights And Advanced Performance Tracking

WIIM

eXp World shares are trading lower after the company reported worse-than-expected Q2 sales results.

eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) reported quarterly earnings of $0.08 per share which met the analyst consensus estimate. The company reported quarterly sales of $1.29 billion which missed the analyst consensus estimate of $1.30 billion by 0.27 percent. This is a 5.03 percent increase over sales of $1.23 billion the same period last year.

Reported Yesterday; eXp World Holdings Q2 2024 GAAP EPS $0.08, Inline, Sales $1.29B Miss $1.30B Estimate

DA Davidson analyst Tom White maintains eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) with a Neutral and raises the price target from $11.75 to $13.5.

Price Target

Analyst Ratings

DA Davidson Maintains Neutral on eXp World Holdings, Raises Price Target to $13.5

BTIG analyst Soham Bhonsle upgrades eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) from Sell to Neutral.

Upgrades

BTIG Upgrades eXp World Holdings to Neutral

Existing home sales in the United States plunged 5.4% in June 2024 from the previous month, marking the steepest monthly drop since November 2022. This decline is attributed to heightened buyer apprehension, as the median sales price reached a record high for <a href="https://www.benzinga.com/money/how-to-invest-in-real-estate">the second consecutive month.</a>
In June 2024, sales totaled 3.89 million units, a decrease from 4.11 million in May, according to data released Tuesday by the National Association of Realtors (NAR). Year-over-year, sales also fell by 5.4%.
The median existing-home price for all housing types in June was $426,900, an all-time high and an increase of 4.1% from $410,100 a year ago. 
Total housing inventory at the end of June was 1.32 million units, up 3.1% from May and 23.4% from a year ago (1.07 million). Unsold inventory stands at a 4.1-month supply at the current sales pace, up from 3.7 months in May and 3.1 months in June 2023.
NAR chief economist Lawrence Yun commented, "We&#8217;re seeing a slow shift from a seller&#8217;s market to a buyer&#8217;s market."
 "Homes are sitting on the market a bit longer, and sellers are receiving fewer offers.&nbsp;More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis," the economist added.
<h3 class="wp-block-heading">Chart: Home Sales Drop 5.4% In June</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1024x501.png" alt="" class="wp-image-451631" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1024x501.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-768x376.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37-1536x751.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/23103342/image-37.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Regional Performance</h3>
All four U.S. regions saw both sales declines and price gains.
<ul>
<li>In the Midwest, existing-home sales dropped 8% from the previous month to an annual rate of 920,000 in June, a 6.1% decrease from the prior year. The median price in the Midwest was $327,100, up 5.5% from June 2023.</li>
<li>In the South, existing-home sales fell 5.9% from May to an annual rate of 1.76 million in June, down 6.9% from a year earlier. The median price in the South was $373,000, a 1.7% increase from last year.</li>
<li>Existing-home sales in the West declined 2.6% in June to an annual rate of 740,000, matching the figure from a year ago. The median price in the West was $629,800, up 3.5% from June 2023.</li>
<li>In the Northeast, existing-home sales decreased 2.1% from May to an annual rate of 470,000 in June, a 6% decline from June 2023. The median price in the Northeast was $521,500, a significant 9.7% increase from a year earlier.</li>
</ul>
<h3 class="wp-block-heading">Buyer Activity And Mortgage Rates</h3>
Properties typically remained on the market for 22 days in June, down from 24 days in May but up from 18 days in June 2023, the monthly Realtors Confidence Index showed.
First-time buyers accounted for 29% of sales in June, down from 31% in May but up from 27% in June 2023. NAR&#8217;s 2023 Profile of Home Buyers and Sellers – released in November 2023 – reported the annual share of first-time buyers was 32%.
Freddie Mac reported the 30-year fixed-rate mortgage averaged 6.77% as of July 18, down from 6.89% a week earlier and 6.78% a year ago.
All-cash sales made up 28% of transactions in June, unchanged from May and up from 26% a year ago. Individual investors or second home buyers, who constitute a significant portion of cash sales, purchased 16% of homes in June, the same as in May but down from 18% in June 2023.
Distressed sales – foreclosures and short sales – accounted for 2% of sales in June, unchanged from the previous month and the prior year.
<h3 class="wp-block-heading">Market Reactions</h3>
Real estate stocks, as tracked by the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), inched 0.4% higher Tuesday, on track to close the session at the highest level since February 2023.
Leading the sector were Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) and eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>), each recording gains between 3% and 3.5%.
NexPoint Diversified Real Estate Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NXDT#NYSE">NXDT</a>), Office Properties Income Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>) and Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) were the laggards, down 3.5%, 2.9% and 2.6%, respectively. 
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Photo via Unsplash.

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OPEN

US Home Sales See Sharpest Monthly Decline In 1.5 Years As Record High Prices Keep Buyers On The Sideline

These eleven mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Virtu Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) shares jumped 30.04% after reporting <a href="https://www.benzinga.com//node/39842408" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results.</a></li>
<li>V.F. Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) stock upped 22.38% after the company announced it entered into a Stock and Asset Purchase Agreement to sell its Supreme brand to EssilorLuxottica (OTC: <a href="https://www.benzinga.com//node/39819517" target="_blank" rel="noreferrer noopener">ESLOF) for $1.5 billion in cash</a>. Several analysts raised <a href="https://www.benzinga.com//node/39837581" target="_blank" rel="noreferrer noopener">their price forecasts on VFC</a>.</li>
<li>New Fortress Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>) shares grew 20.19% after the company announced that it achieved First LNG for its initial Fast LNG asset <a href="https://www.benzinga.com//node/39859500" target="_blank" rel="noreferrer noopener">located offshore Altamira, Mexico</a>.</li>
<li>Riot Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) stock gained 16.06% in the last week amid a rise in the Bitcoin price.</li>
<li>Clarivate Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLVT#NYSE">CLVT</a>) stock grew 14.41%. The company partnered with Ohio Libraries Partner to <a href="https://www.benzinga.com//node/39831429" target="_blank" rel="noreferrer noopener">enhance resource sharing by 2025</a>.</li>
<li>AMN Healthcare Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMN#NYSE">AMN</a>) stock rose 14.22%.</li>
<li>BankUnited, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) stock rose 13.42% after the company reported <a href="https://www.benzinga.com//node/39834218" target="_blank" rel="noreferrer noopener">better-than-expected Q2 financial results</a>.</li>
<li>Marathon Digital Holdings Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) stock soared 12.67% last week on the back of Bitcoin gains.</li>
<li>eXp World Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) stock was up 12.34%.</li>
<li>Zeta Global Holdings Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) was up 11.87% in the last week as <a href="https://www.benzinga.com/quote/ZETA/analyst-ratings" target="_blank" rel="noreferrer noopener">several analysts</a> raised their price forecasts on the stock.</li>
<li>NCR Atleos Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NATL#NYSE">NATL</a>) shares increased 11.39%. The company disclosed that the $2.3 billion-asset Black Hills Federal Credit Union (BHFCU) has expanded its partnership with Atleos by selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) <a href="https://www.benzinga.com//node/39813077" target="_blank" rel="noreferrer noopener">to enhance self-service banking</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873480/warner-bros-discovery-coinbase-are-among-10-large-cap-stocks-that-shined-most-last-week-july-14-ju" target="_blank" rel="noreferrer noopener">Warner Bros. Discovery &amp; Coinbase Are Among 10 Large Cap Stocks That Shined Most Last Week (July 14-July 20): Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/07/39873577/amd-and-dominos-pizza-were-among-11-worst-performers-in-large-cap-space-last-week-july-14-july-20-" target="_blank" rel="noreferrer noopener">AMD And Domino's Pizza Were Among 11 Worst Performers In Large Cap Space Last Week (July 14- July 20) – Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock

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CLVT

ESLOF

GTLB

MARA

NATL

NYCB

RIOT

SGRY

VIRT

ZETA

Riot Platforms & North Face Parent V.F. Corp Are Among 11 Mid-Cap Stocks That Performed The Best Last Week (July 14-July 20): Are Others In Your Portfolio?

<a href="https://thebearcave.substack.com/p/even-more-problems-at-exp-world-holdings" title="https://thebearcave.substack.com/p/even-more-problems-at-exp-world-holdings">https://thebearcave.substack.com/p/even-more-problems-at-exp-world-holdings</a>

Short Sellers

Trading Ideas

Watching EXp World Holdings; The Bear Cave Newsletter Issues Report Titled "Even More Problems at eXp World Holdings"

A lower-than-expected inflation report for May ignited a bullish frenzy on Wall Street, with investors increasing their bets on rate cuts, bolstered by growing confidence that the Federal Reserve will ease its policy stance later this year as price pressures trend <a href="https://www.benzinga.com/markets/equities/24/06/39289912/us-inflation-eases-more-than-expected-in-may-boosts-2024-rate-cut-prospects-ahead-of-wednesdays-">towards the 2% target.</a>
The Consumer Price Index (CPI) data revealed cooler-than-anticipated monthly and annual inflation rates for both headline and core items. 
This report arrives just ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting, which will commence <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39294739/how-mays-inflation-slowdown-could-influence-feds-next-move-insights-from-6-economis">at 2:00 p.m. ET today.</a>
The implied probability of a rate cut by September has surged to 72%, up from 54% before the inflation report. Fed futures now indicate a 55 basis points reduction (equivalent to two rate cuts) by year-end.
In response to rising expectations for rate cuts, traders quickly pivoted to riskier assets.
The tech-heavy Nasdaq 100 climbed 1.4% to over 19,400 points, setting new record highs. The S&amp;P 500 Index increased by 1.1% to surpass 5,400 points, also achieving fresh all-time highs.
Blue-chip stocks saw a modest rise of 0.2%, but the standout performance came from small caps. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) surged 2.7%, marking its best session since mid-December 2023.
Treasury yields plummeted across the board, with the 2-year yield dropping 15 basis points to 4.68%. Long-dated yields also declined by approximately 10 basis points, propelling the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) up by 1.6%, its strongest one-day performance since early February 2024.
Industries sensitive to interest rates saw significant gains. The SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) and the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soared 4.6% and 3.5%, respectively.
Precious metals also rallied on the back of lower yields and a weakening dollar, with gold rising 0.8% and silver surging 2.8%.
Cryptocurrencies experienced sharp rallies driven by the risk-on sentiment. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped 3.6% to $69,800, while the more speculative Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged over 8% on the day.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,072.95</td>
<td>2.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,471.20</td>
<td>1.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,435.07</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,819.58</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.1% higher to $542.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% higher to $388.81.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 1.4 higher to $474.65.</li>
<li>Sector-wise, the&nbsp;Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 2.6%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rose 4.7%, surpassing Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) as the world&#8217;s biggest company. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied over 4%, following <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39294523/cathie-wood-ark-invest-set-new-2-600-price-target-for-tesla-every-car-becomes-an-ai-powered-c">Cathie Wood&#8217;s bullish projection</a> on the EV maker. </li>
<li>The top performers among real estate stocks were Zillow Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>), eXp World Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) and Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>), with gains of 13.7%, 11% and 9.4%, respectively. </li>
<li>Among the subset of stocks exposed to the office and commercial real estate sector, SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) and Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) rose 8.3% and 8%, respectively.</li>
<li>Within the regional bank industry, First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) and Western Alliance Bancorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) rose the most, up 7.5% and 7%, respectively. </li>
<li>Caseys General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) skyrocketed over 17% in reaction to stronger-than-expected quarterly earnings and revenue. </li>
<li>Other stocks reacting to company earnings are Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) up 12.7%, Autodesk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) up 5.3%, Rubrik Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) down 4.9%. </li>
<li>Companies set to report their earnings after Wednesday&#8217;s close are Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Dave &amp; Busters Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>), and Oxford Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>). </li>
</ul>
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Bulls Push Wall Street To Record Highs On Declining Inflation; Tech, Real Estate, Small Caps Surge Ahead Of Fed Meeting: What's Driving Markets Wednesday?

eXp World Holdings's Core Subsidiary Launched Global Agent Referral Platform, Designed To Simplify And Accelerate The Real Estate Referral Process

U.S. home prices surged to a new peak in March 2024, recording the highest annual growth rate <a href="https://www.benzinga.com/real-estate">in over a year. </a>
The S&amp;P CoreLogic Case-Shiller 20-city home price index — a key gauge to track the home prices of typical single-family units in the U.S. — increased by 7.4% year-on-year, notching the highest rise since October 2022 and surpassing market expectations of 7.3%. 
This marked the ninth consecutive month of rising home prices.
The S&amp;P CoreLogic Case-Shiller U.S. National Home Price Index, which encompasses all nine U.S. census divisions, recorded a 6.5% annual gain in March, matching the increase from the previous month. 
The 10-City Composite saw an annual increase of 8.2%, up from 8.1% in February.
Notably, all metropolitan areas recorded a positive monthly growth in March. Among the 20 cities tracked:
<ul>
<li>San Diego reported the highest year-over-year gain with an 11.1% increase in March. </li>
<li>New York and Cleveland followed with increases of 9.2% and 8.8%, respectively. </li>
<li>Denver maintained the lowest rank for year-over-year growth but reported a steady 2.1% annual increase for the third consecutive month.</li>
</ul>
<h3 class="wp-block-heading">Analysis Of Current Home Prices </h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Metropolitan Area</th>
<th>March 2024 Index Level</th>
<th>March 2024 1-month change (%)</th>
<th>March 2024 1-year change (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>Atlanta</td>
<td>243.56</td>
<td>1.1%</td>
<td>6.1%</td>
</tr>
<tr>
<td>Boston</td>
<td>328.21</td>
<td>1.9%</td>
<td>8.7%</td>
</tr>
<tr>
<td>Charlotte</td>
<td>273.59</td>
<td>1.0%</td>
<td>7.5%</td>
</tr>
<tr>
<td>Chicago</td>
<td>271.50</td>
<td>1.7%</td>
<td>8.7%</td>
</tr>
<tr>
<td>Cleveland</td>
<td>185.41</td>
<td>2.4%</td>
<td>8.8%</td>
</tr>
<tr>
<td>Dallas</td>
<td>295.01</td>
<td>1.2%</td>
<td>3.6%</td>
</tr>
<tr>
<td>Denver</td>
<td>315.66</td>
<td>1.3%</td>
<td>2.1%</td>
</tr>
<tr>
<td>Detroit</td>
<td>181.87</td>
<td>1.1%</td>
<td>7.7%</td>
</tr>
<tr>
<td>Las Vegas</td>
<td>289.21</td>
<td>0.9%</td>
<td>7.7%</td>
</tr>
<tr>
<td>Los Angeles</td>
<td>433.59</td>
<td>1.7%</td>
<td>8.8%</td>
</tr>
<tr>
<td>Miami</td>
<td>433.23</td>
<td>1.0%</td>
<td>8.2%</td>
</tr>
<tr>
<td>Minneapolis</td>
<td>235.35</td>
<td>1.3%</td>
<td>3.3%</td>
</tr>
<tr>
<td>New York</td>
<td>300.27</td>
<td>1.5%</td>
<td>9.2%</td>
</tr>
<tr>
<td>Phoenix</td>
<td>324.53</td>
<td>0.5%</td>
<td>4.9%</td>
</tr>
<tr>
<td>Portland</td>
<td>323.64</td>
<td>1.5%</td>
<td>2.2%</td>
</tr>
<tr>
<td>San Diego</td>
<td>438.00</td>
<td>2.2%</td>
<td>11.1%</td>
</tr>
<tr>
<td>San Francisco</td>
<td>355.52</td>
<td>2.6%</td>
<td>4.9%</td>
</tr>
<tr>
<td>Seattle</td>
<td>380.26</td>
<td>2.7%</td>
<td>7.8%</td>
</tr>
<tr>
<td>Tampa</td>
<td>381.85</td>
<td>0.5%</td>
<td>3.8%</td>
</tr>
<tr>
<td>Washington</td>
<td>321.73</td>
<td>1.3%</td>
<td>7.0%</td>
</tr>
</tbody>
<tfoot>
<tr>
<td>Composite-10</td>
<td>341.75</td>
<td>1.6%</td>
<td>8.2%</td>
</tr>
<tr>
<td>Composite-20</td>
<td>325.09</td>
<td>1.6%</td>
<td>7.4%</td>
</tr>
<tr>
<td>U.S. National</td>
<td>316.65</td>
<td>1.3%</td>
<td>6.5%</td>
</tr>
</tfoot>
</table>
<figcaption class="wp-element-caption">Data: S&amp;P Dow Jones Indices and CoreLogic</figcaption></figure>
See Also: <a href="https://www.benzinga.com/real-estate/24/05/39029109/rent-in-the-city-invest-in-the-suburbs-the-rise-of-rentvesting">Rent In The City, Invest In The Suburbs — The Rise Of &#8216;Rentvesting&#8217;</a>
Overall, U.S. house prices have soared by 136% from the trough seen in 2012 and are 71.5% higher than the 2006 peak. 
For the 20-City Composite, prices have surged by 142.5% from the 2012 trough and by 57.4% from the 2006 peak. 
The 10-City Composite has increased by 133.4% from the 2012 trough and by 51.0% from the 2006 peak.
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Category</th>
<th>Peak Index Level</th>
<th>Peak Date</th>
<th>Trough Index Level</th>
<th>Trough Date</th>
<th>Change from Peak (%)</th>
<th>Current Index Level</th>
<th>Change from Trough (%)</th>
<th>Change from Peak (%)</th>
</tr>
</thead>
<tbody>
<tr>
<td>National</td>
<td>184.61</td>
<td>Jul-06</td>
<td>134.00</td>
<td>Feb-12</td>
<td>-27.4%</td>
<td>316.65</td>
<td>136.3%</td>
<td>71.5%</td>
</tr>
<tr>
<td>20-City</td>
<td>206.52</td>
<td>Jul-06</td>
<td>134.07</td>
<td>Mar-12</td>
<td>-35.1%</td>
<td>325.09</td>
<td>142.5%</td>
<td>57.4%</td>
</tr>
<tr>
<td>10-City</td>
<td>226.29</td>
<td>Jun-06</td>
<td>146.45</td>
<td>Mar-12</td>
<td>-35.3%</td>
<td>341.75</td>
<td>133.4%</td>
<td>51.0%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: S&amp;P Dow Jones</figcaption></figure>
<h3 class="wp-block-heading">Expert&#8217;s Take</h3>
Brian D. Luke, head of commodities, real &amp; digital assets at S&amp;P Dow Jones Indices, emphasized the robust performance of the housing market.
"This month's report boasts another all-time high. We've witnessed records repeatedly break in both stock and housing markets over the past year. Our National Index has reached new highs in six of the last 12 months,&#8221; he said. &#8220;During that time, we've seen record stock market performance, with the S&amp;P 500 hitting fresh all-time highs for 35 trading days in the past year."
Among the highlights:
<ul>
<li>San Diego&#8217;s impressive 11.1% annual gain is a standout</li>
<li>New York and Los Angeles make up about 30% of the 20-City Composite and have shown significant recovery, matching the national composite annualized return of 9.9% since 2020. </li>
<li>San Francisco and Seattle have not yet fully recovered from their previous highs, being 9.7% and 8.2% lower than their May 2022 peaks, respectively.</li>
<li>The Northeast region remains the top performer with an 8.3% annual gain. </li>
<li>Tampa, Phoenix, and Dallas experienced significant growth in 2020 and 2021; they now show slower growth rates.</li>
</ul>
&#8220;COVID was a boom for Sunbelt markets, but the bigger gains the last couple of years have been the northern metro cities," Luke stated.
<h3 class="wp-block-heading">Market Reactions</h3>
Both the Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) and the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) rose 0.8% Tuesday, outperforming all other S&amp;P 500&#8217;s sectors excluding energy. 
Stock-wise, the best performers were Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>), eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) and Orion Office REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONL#NYSE">ONL</a>) with gains of 4.5%, 4.2% and 3.1%, respectively. 
Now Read: <a href="https://www.benzinga.com/markets/equities/24/05/39010704/hedge-funds-tweak-portfolios-in-q1-marvell-td-synnex-aes-get-more-love-as-focus-shifts-to-ai">Hedge Funds Tweak Portfolios In Q1: Marvell, TD Synnex, AES Get More Love As Focus Shifts To AI</a>
Image: Shutterstock

Macro Notification

Market Summary

XLRE

US Home Prices Hit All-Time Highs, Fastest Growth Rate In A Year: 'We've Witnessed Records Repeatedly Break'

As of May 15, 2024, three stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Redfin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>)</h3>
<ul>
<li>On May 13, Susquehanna analyst Shyam Patil maintained Redfin with a Neutral and raised the price target from $7 to $8. The company's stock gained around 14% over the past five days and has a <a href="https://www.benzinga.com/quote/RDFN">52-week high of $17.68</a>.</li>
<li>RSI Value: 75.65&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>RDFN Price Action: Shares of Redfin fell 1.3% to close at $7.90 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Healthcare Realty Trust Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HR#NYSE">HR</a>)</h3>
<ul>
<li>On May 7, Healthcare Realty Trust posted better-than-expected quarterly FFO. The company's stock gained around 17% over the past month and <a href="https://www.benzinga.com/quote/HR">has a 52-week high</a> of $20.25.</li>
<li>RSI Value: 78.75</li>
<li>HR Price Action: Shares of Healthcare Realty Trust rose 1.6% to close at $16.27 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">eXp World Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>)</h3>
<ul>
<li>On May 1, eXp World Holdings reported better-than-expected first-quarter financial results. &#8220;During the first quarter, our agents closed over $37 billion of transactions, a 12% year-over-year increase, underscoring eXp&#8217;s unparalleled scale in the cloud brokerage market we pioneered,&#8221; said Glenn Sanford, eXp World Holdings Founder, Chairman and CEO. &#8220;We continue to provide our agents with the industry&#8217;s best platform for growth and the resources they need to navigate today&#8217;s dynamic real estate market.&#8221; The company's stock gained around 33% over the past month and has a <a href="https://www.benzinga.com/quote/EXPI">52-week high</a> of $25.39.</li>
<li>RSI Value: 70.31</li>
<li>EXPI Price Action: Shares of eXp World rose 2.9% to close at $12.93 on Tuesday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38835382/investor-optimism-improves-ahead-of-cpi-report-nasdaq-settles-at-record-high">Investor Optimism Improves Ahead Of CPI Report, Nasdaq Settles At Record High</a>

Short Ideas

Pre-Market Outlook

Top 3 Real Estate Stocks That May Implode In Q2

DA Davidson analyst Tom White maintains eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) with a Underperform and maintains $11.75 price target.

DA Davidson Maintains Underperform on eXp World Holdings, Maintains $11.75 Price Target

eXp World Holdings shares are trading higher after the company reported better-than-expected Q1 financial results.

eXp World Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) reported quarterly losses of $(0.02) per share which beat the analyst consensus estimate of $(0.06) by 66.67 percent. This is a 300 percent decrease over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $943.05 million which beat the analyst consensus estimate of $893.24 million by 5.58 percent. This is a 11.15 percent increase over sales of $848.45 million the same period last year.

CORRECTION: eXp World Holdings Q1 Adj $(0.02) Beats $(0.06) Estimate, Sales $943.05M Beat $893.24M Estimate

<a href="https://thebearcave.substack.com/p/more-problems-at-exp-world-holdings" title="https://thebearcave.substack.com/p/more-problems-at-exp-world-holdings">https://thebearcave.substack.com/p/more-problems-at-exp-world-holdings</a>

Watching eXp World Holdings; The Bear Cave Issued Short Report Titled "More Problems At eXp World Holdings"

eXp Realty announced a strategic relationship with Sisu designed to enable eXp Realty's extensive network of agents in the United States and Canada...

eXp Realty enters strategic partnership with Sisu

eXp Realty announced its expansion into three markets, Turkiye, Peru, and Egypt, set for 2025. In a bold move to strengthen its global footprint, e...

eXp Realty to expand to Turkey, Peru, Egypt in 2025

Reports Q3 revenue $1.2B, consensus $1.27B. "This is an exciting and pivotal time for eXp agents worldwide," said Glenn Sanford, eXp World (EXPI) H...

eXp World reports Q3 adjusted EPS 5c, consensus 5c

Exp World Holdings ( ($EXPI) ) has released its Q3 earnings. Here is a breakdown of the information Exp World Holdings presented to its investors. ...

eXp World Holdings Reports Growth Amid Market Challenges

eXp World Holdings, Inc. (EXPI) Q3 2024 Earnings Call Transcript

eXp World declares $0.05 dividend

The Justice Department, which is not a party to the proposed $418M settlement in a class action over home sales commissions, submitted a "statement...

DOJ says realtor group settlement could harm competition, Reuters reports

Real estate broker stocks rise after NAR settlement gets final court approval

In a regulatory filing, eXp World (EXPI) chairman and CEO Glenn Darrel Sanford disclosed the sale of 49,881 common shares of the company on Decembe...

eXp World CEO Sanford sells 49,881 common shares

Supreme Court denies realtors' appeal on antitrust probe ruling

HOUS

OPAD

REAX

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Press Releases

Bilt Rewards Launches Industry-First Program to Earn Points on Home Purchases

eXp Realty Launches Local Sponsor Partnership Program to Strengthen Global Agent Success

Gina Kirschenheiter and Travis Mullen Join eXp Realty: From Reality TV to Real Estate Trailblazers

Phoenix Real Estate Powerhouse Joshua Smith Joins eXp Realty

CoStar Group Partners with eXp Commercial to Provide Expanded Technology Suite

Kris Caldwell and $200 Million Mega Team Join eXp Realty to Scale New Heights

Southern Jersey Real Estate Leader, Jeff Quintin, Brings His 15-Agent Team to eXp Realty

Miami's Abel Gilbert and ONEPATH Realty Join eXp Realty

Utah Powerhouse Spring Bengtzen Joins eXp Realty as Leader of 80-agent, $316M Team

eXp Realty Named to Glassdoor's Best Places to Work for Eighth Consecutive Year

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