Douglas Elliman Revenue Declines In Face Of Luxury Housing Shortage

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Douglas Elliman’s revenue declined in Q2 as the housing market — particularly the luxury sector — struggled with slower activity, the company said in its third earnings report as a public company. New York-based residential brokerage Douglas Elliman experienced a decline in revenue in the second quarter as the housing market — in particular, the luxury sector — faced a slow down, according to an earnings report on Friday.

Despite the decline, however, the quarter still marked Douglas Elliman’s second highest quarterly revenue in the company’s history. Quarterly consolidated revenue fell 7 percent from the previous year to $364.

4 million. Gross transaction value during the second quarter was $13.

6 billion compared to about $15.1 billion the year prior.

By contrast, […].

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