- End of Q2 with over 147,000 agents, an all-time high.
- Signs of stabilization in U.S. agent count, best performance since Q2 2022.
- April was the strongest month for U.S. agent count in 3 years, with momentum continuing through May and June.
- Early signs of U.S. agent count stabilization are emerging, driven by demand for the RE/MAX brand.
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- Achieved record revenue of $157 million in Q2 2025, up 10% YoY.
- Total originations reached a record $510 million, driven by digital channels, auto secured loans, and new branches.
- 17 new branches since September 2024, with 11 in new markets (California, Arizona, Louisiana), contributing significantly to growth.
- Expected to open 5-10 additional branches in the next 6 months, with positive early performance.
- Compass achieved its strongest quarterly results in history with 10 records, including all-time high revenue, adjusted EBITDA, net income, free cash flow, and market share.
- Revenue increased by 21.1% YoY, total transactions up 20.9%, organic transactions up 6.3%, outperforming the market which declined by 0.9%.
- Organic growth outpaced the market for 17 consecutive quarters, demonstrating resilience in a challenging housing environment.
- Leased over 400,000 sq ft in Q2, with notable strength in San Francisco and San Diego.
- Tenant demand nearly doubled in San Francisco since 2023, reaching approximately 7 million sq ft.
- Flight to quality and safety improvements, along with downtown revitalization, are boosting tenant confidence.
- Major lease signed with an AI tenant at 201 3rd Street in SoMa, highlighting growth in AI sector demand.
- Occupancy growth from trough-to-peak increased to 190 basis points in 2025, up from 180 basis points last year.
- Net effective rates for new customers increased by 28.3%, significantly higher than 15% in 2024.
- Occupancy and move-in rate gaps to last year have narrowed throughout 2025, with July showing further improvement.
- Urban markets like the Acela Corridor and Chicago outperform others, indicating a stickier customer base less reliant on housing transactions.
- First half 2025 saw record high absorption, supported by employment and income growth exceeding expectations.
- Demand outpacing supply across many markets, with elevated homeownership costs and housing undersupply bolstering occupancy and pricing prospects.
- Management emphasizes positive industry fundamentals and UDR's competitive advantages in leveraging these trends.
- Management highlighted positive inflection in new customer rate growth for the first time since March 2022.
- Occupancy remained high at 94.6%, with a 50 basis point increase year-over-year in July.
- Progress in revenue growth is gradual, with expectations of acceleration in the second half, especially in Q4.
- Demand indicators such as rental volume and customer behavior remain positive, despite softer-than-expected revenue growth.
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