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The continuing low-interest-rate environment and peoples’ desire to move to improved living spaces have driven increased demand for real estate services over the past year. Furthermore, as travel restrictions are lifted on approximately 33 countries for vaccinated visitors, wealthy buyers from overseas are expected to descend on United States luxury housing markets, which could generate tens of billions of dollars in added sales. According to a SpendEdge report, the real estate agents and brokerage services market is expected to grow at a 4.8% CAGR by 2024. Therefore, both RMAX and RLGY should benefit.
RMAX shares have gained 0.9% in price over the past month, while RLGY’s delivered negative returns. However, RLGY’s 41.7% gains over the past year are significantly higher than RMAX’s 0.5% returns. Moreover, RLGY is the clear winner with 37% gains versus RMAX’s negative returns in terms of year-to-date performance.
