5月份过去了，昆明主城新房销量又回到了去年9月以前的疲软水平，根据克而瑞、铭腾等机构的统计，过去几周主城新房（住宅）的 销售面积基本维持在5万-6万平米，月销售面积顶多和4月差不多，也就20几万平米的销量。 5月最后一周昆明主城新房成交数据（图表：克而瑞） 其实4月的新房销量也不高，主城5区只卖了2093套住宅，成交面积26.47万平米，两项数据比3月都有20%以上的降幅，只不过同比仍 高于去年。 一个月20来万平米的成交面积，基本是去年9月以前的平均水平。从去年10月开始，在一系列强力政策的刺激下，昆明新房成交面积 明显放量，去年最后一个季度的月均销售面积差不多有40万平米，比前三个季度的月均销售面积多了10万平米以上。 到了今年一季度，昆明主城新房销售也呈现复苏势头，三个月成交81.4万平米，比去年一季度增长37%，增幅非常大。但到了4月，市 场回暖势头就有所减弱，销售面积仅比去年4月多了3万平米，增幅也降低到了12.8%。 虽然5月份的成交面积还没有公布，但根据过去几周的数字看，不见得会高于去年5月，或者仅略有增长。 这并不是个好的信号。 因为5月一向是传统销售旺季，今年新项目又比较多，两个第四代住宅项 ...

Market Overview - The stock market has rebounded from post-tariff volatility, while the real estate market has not shown signs of recovery [1] - Persistently high-interest rates are maintaining high mortgage rates, negatively impacting buyer affordability and sellers' willingness to switch homes [1] Analyst Background - Gary Alexander has extensive experience covering technology companies on Wall Street and working in Silicon Valley, along with advising seed-round startups [1] - He has been a contributor on Seeking Alpha since 2017 and has been quoted in various web publications [1]

历经房地产市场调整之后，广州民企重现土拍市场。 5月6日上午，广州市番禺区番禺广场融媒体北侧BC0612046地块限时竞拍，三家房企竞价6轮，最终由 民营房企广州市番禺置业房地产开发有限公司以总价3.07亿元竞得，折合楼面地价19894元/平方米，溢 价率19.48%。 | | 图 出价记录 | | | 白菜 | | --- | --- | --- | --- | --- | | (0) | 2025.05.06 | | | | | | 序 | 号牌 | मार्ग | 出价时间 | | | 6 | 30 | 价格:30,669 ... | 10:05:12 | | | 5 | 66 | 价格:29,669 ... | 10:04:42 | | 0 | 2025.05.01 | | | | | | 4 | 30 | 价格:28,669 ... 17:20:49 | | | | 3 | 66 | 价格:27,669 ... | 12:05:48 | | | 2 | 30 | 价格:26,669 ... | 08:31:52 | | | 1 | 896 | 价格:25,669 ... | 08:30:02 | 据 ...

| | 十年六月 | | | | | | --- | --- | --- | --- | --- | --- | | | 肥4月25日登记 | | | | | | | | (统计时间:4月25日) | | | | | 楼盘名称 | | 面积段 ( m2 ) | 总房源 | | 备案均价 ( 75/ m2 ) | | 中海悦府二期 | 6幢 | 129-137 | ୧୫ | | 25249 | | 招商庐州臻境 | 13幢 | 173-198 | 32 | | 30348 | | 万科悦映青川 | 1 首 | 86-91 | 61 | 13 | 17837 | | 意禾金茂学林拾光 | 8幢 | 82-99 | 70 | | 16651 | | 越秀和越府 | 3幢 | 154 | ୧୫ | | 31522 | | 中国铁建花语江南 | 8幅13幢 | 142-167 130 | 104 | | 29526 26973 | | 中交九宸 | 15幢 | 169-171 | 30 | | 24444 | | 滨投置地:珺玺中心二期 | B2幢B6幢 | 197 189 | 139 | | 20376 19616 ...

Financial Data and Key Metrics Changes - Q1 2025 revenue reached $732 million, a 12% year-over-year increase, marking the 56th consecutive quarter of double-digit revenue growth [5][63] - Adjusted EBITDA for Q1 2025 was $66 million, representing a 429% increase compared to Q1 2024, with a profit margin of 9% [6][63] - Company net new bookings were $56 million in Q1 2025, up 6% sequentially from Q4 2024 [6][71] - The company reported a net loss of $15 million primarily due to one-time costs from the Matterport acquisition [70] Business Line Data and Key Metrics Changes - CoStar revenue grew 6% year-over-year in Q1 2025, with net new bookings at their highest level since Q3 2023 [7][64] - Apartments.com revenue increased by 11% year-over-year, with significant growth in the number of listed properties [19][65] - LoopNet revenue grew 5% in Q1 2025, with expectations for revenue growth to accelerate throughout the year [67] - STR's integration into CoStar contributed to its best quarter ever for net new bookings, up 17% year-over-year [7] Market Data and Key Metrics Changes - The commercial real estate environment remains challenging, with historic high vacancy rates around 16% and real asking rents at a 30-year low [9][10] - In retail, real asking rents are at ten-year lows, but signs of improvement are emerging as vacancy rates begin to fall [11] - The company expects market conditions to improve over the next few years, shifting from headwinds to tailwinds [12] Company Strategy and Development Direction - The company is focused on integrating its various brands and enhancing product offerings to create a comprehensive solution for clients [15][16] - A new marketing strategy for LoopNet aims to increase the number of paid properties on the platform, enhancing consumer choice [13] - The company is expanding its sales force to capitalize on growth opportunities, particularly in the Apartments.com segment [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that the current commercial real estate environment is one of the worst in decades, but they anticipate a return to double-digit growth as conditions improve [9][12] - The company is maintaining its revenue growth guidance of 6% to 7% for the full year 2025, despite some expected headwinds from government contract cancellations [64][73] - Management expressed confidence in the Homes.com brand, which has seen significant growth in unaided brand awareness and traffic [70][31] Other Important Information - The company repurchased 240,000 shares for $18.5 million in Q1 2025 and plans to repurchase a total of $150 million in shares throughout the year [72] - The company made a nonbinding offer to acquire Domain Group, a significant player in the Australian real estate market [72][54] Q&A Session Summary Question: Comments on the delayed market listing exemption discussed by the NAR and Zillow's reaction - Management reported overwhelmingly negative feedback from agents regarding Zillow's new rules, indicating a potential opportunity for the company [76][77] Question: Nonresidential EBITDA margin in Q1 and outlook for residential spending in 2025 - The commercial margin was reported at 43% for Q1, with no changes to the budget for Homes.com [78][80]

Financial Data and Key Metrics Changes - The first quarter FFO was $0.14 per share, with a net loss of $27.4 million or $0.16 per share [5][23] - The capital ratio was 12.2, slightly above the business plan range for 2025 [9] - The CAD payout ratio for the first quarter was 169.4%, significantly elevated due to deferred tenant improvement allowances and accrued preferred dividends [30][21] Business Line Data and Key Metrics Changes - The quarterly retention rate was 55%, with leasing activity approximating 340,000 square feet [6] - The operating portfolio ended the quarter at 86.6% occupied and 89.2% leased, with Philadelphia at 93% occupied and 96% leased [7][8] - The mark to market was 8.9% on a GAAP basis and 2.3% on a cash basis, both above business plan expectations [8] Market Data and Key Metrics Changes - In Austin, occupancy is at 75%, impacted by early terminations [8] - The life science sector is recovering, with a strong regional healthcare ecosystem supporting growth [13] - The demand for high-quality office space is increasing, with a notable flight to quality trend [12] Company Strategy and Development Direction - The company aims to stabilize its development projects, with significant progress made in residential developments [15] - The focus is on maintaining minimal balances on the line of credit and ensuring ample liquidity [10] - The company plans to capitalize on improving real estate market conditions and has a strong pipeline of leasing activity [11][34] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic uncertainty is affecting decision-making but has not significantly delayed larger prospects [40] - The company remains optimistic about increased leasing activity in Austin as the tech sector revitalizes [14] - The overall sentiment in real estate markets is improving, with a solid operating foundation established [10][34] Other Important Information - The company anticipates no property acquisitions and plans to recapitalize developments as they approach stabilization [29] - The projected capital plan for the year totals $180 million, focusing on development and redevelopment projects [30] - The company is targeting a midpoint of $50 million in sales for the year, with a mix of institutional and private equity buyers showing interest [62] Q&A Session Summary Question: Pipeline details, particularly in Austin - Management noted increased tour activity and interest from technology and financial service companies, with a mix of smaller and larger space requirements [38] Question: Decision-making process amid macro uncertainty - Management indicated that while decision-making is slower, larger prospects have not paused due to macro conditions [40] Question: Leasing pipeline breakdown - The operating portfolio pipeline is between 1.7 and 1.8 million square feet, with strong leasing activity in Philadelphia [46] Question: Economics of the office to residential conversion at 300 Delaware - The conversion is expected to yield around 7.5%, with minimal NOI loss due to the property being under-leased [54][56] Question: Changes in buyer pool composition and pricing - The buyer pool has shifted towards institutional quality buyers, with a significant increase in their market share [62] Question: Capital provider appetite for multifamily projects - There is a higher visibility and depth in the market for residential properties compared to office products [68] Question: Impact of Spark Therapeutics layoffs - Management confirmed that Spark has no early termination rights on their lease, and the company remains committed to its operations [88]

Redfin Corporation (NASDAQ:RDFN) Q4 2024 Earnings Conference Call February 27, 2025 4:30 PM ET Corporate Participants Meg Nunnally - Head, IR Glenn Kelman - Chief Executive Officer Chris Nielsen - Chief Financial Officer Conference Call Participants Naved Khan - B. Riley John Campbell - Stephens Dae Lee - JPMorgan Jason Helfstein - Oppenheimer & Co. Ygal Arounian - Citi John Colantuoni - Jefferies Tom White - DA Davidson Operator Greetings and welcome to Redfin Corporation Quarter Four 2024 Earnings Confere ...

Bridge Investment Group (BRDG) Q4 2024 Earnings Call February 25, 2025 09:30 AM ET Company Participants Bonni Rosen - Head of Shareholder RelationsRobert Morse - Executive ChairmanJonathan Slager - CEO & Co-Chief Investment OfficerKatie Elsnab - CFODean Allara - Vice Chairman of the BoardMichael Cyprys - Managing Director Conference Call Participants Michael Brown - Equity Research Analyst - Asset Managers, Brokers and ExchangesKen Worthington - Financial AnalystManu Roberts - Equity Analyst Operator Thank ...

Marcus & Millichap (MMI) Q4 2024 Earnings Call February 14, 2025 10:30 AM ET Company Participants Jacques Cornet - PartnerHessam Nadji - President and CEOSteve Degennaro - Executive VP & CFO Conference Call Participants Jason Belcher - Analyst Operator Greetings, and welcome to Marcus and Millichap's Fourth Quarter and Year End twenty twenty four Earnings Conference Call. As a reminder, this call is being recorded. I would now like to turn the conference over to your host, Jacques Cornet. Thank you. You may ...