Here's Why Realogy Stock Is Rising Today

The U.S. real estate market has been quite strong, thanks to a combination of low mortgage rates and limited inventory of existing homes, and homes have been selling in a fraction of the time it typically takes. For the third quarter, Realogy grew its closed transaction volume by 28% year over year, and generated $1.9 billion in revenue -- a 20% increase over the prior-year period. On a per-share basis, Realogy reported an $0.85 profit as opposed to a $0.99-per-share loss a year ago.