REAL Trends, the trusted source for news, research and information about the real estate brokerage industry, announced the results of the 2017 REAL Trends 500, an independently verified compilation of the nation’s leading residential real estate companies, and PorchLight Real Estate Group was included in both the volume and sides rankings in the report.
According to a recent research report produced by REAL Trends, the 500 largest residential real estate brokerage firms in the nation closed over 3.1 million residential sales transactions in 2016. These transactions represent over one-third of all new and resale transactions completed by brokers during the year, yet the REAL Trends 500 represented less than one-half of one percent of all brokerage firms. The 500 ranked brokers closed 3.1 million home transactions with a value of over $1.0 trillion during 2016, up from $935 billion in calendar year 2015.
Included in the REAL Trends 500 is PorchLight Real Estate Group, headquartered in Denver, Colorado. PorchLight ranked number 299 in the REAL Trends 500 by Volume with $823,407,586 in residential production and ranked number 450 on the Real Trends 500 by Sides with 1,999 residential transaction sides closed last year.
“Housing sales in the nation were up 4.9 percent in 2016 from 2015 which was a slower growth rate than the previous year. The REAL Trends 500 firms were up 6.6% in the same period. For the third year in a row the nation’s largest brokerage firms gained market share,” said Steve Murray, president of REAL Trends. “As we commented last year, this market share growth is unusual in that historically larger firms lose market share in robust markets. Clearly, America’s largest brokerage firms have figured out how to grow their share in all kinds of markets.”
To view the rankings, go to https://www.realtrends.com/rankings/rt500. To purchase a copy of the 2017 REAL Trends 500 publication, go to https://www.realtrends.com/store/index.php?route=product/product&product_id=113.
About REAL Trends
REAL Trends has been The Trusted Source for news, analysis and information about the residential real estate industry since 1987. We are a privately-held publishing, communications and consulting company based in Castle Pines, Colo. Residential real estate leaders look to us for timely and trusted information and analysis through our yearly event, the Gathering of Eagles, and our monthly newsletter, TechTouch, and other publications.