Global real estate provider Realogy saw a revenue of $1.2 billion for the third quarter of 2011 – a 10 percent increase from last year’s third quarter revenue.

The revenue increase can be credited mostly to an increase in transaction volume at the company’s franchises including the Corcoran Group, Citi Habitats, Coldwell Banker and Sotheby’s International Realty. These franchises handled 17 percent more transaction sides this year than they did in the third quarter of 2010.

“Despite difficult macro-economic issues, our third quarter produced 10 percent revenue growth before restructuring and other items,” said Richard Smith, Realogy’s president and CEO. “Given the macroeconomic headwinds facing the housing market, our operating performance has shown resilience. We believe we are substantially advantaged with our leaner, highly variable cost model, a capital structure that includes $2.1 billion of convertible debt and the continued support of our largest investors.”

Anthony Hull, Realogy CFO, predicts that revenue for home sales in the fourth quarter will also show a year-to-year increase, but he expects the pace to be significantly slower.

“The trend we are seeing currently is that in many of our markets, affordability of owning a home, particularly for first-time buyers, is driving activity at the lower end of the housing market,” said Hull. “This has the impact of increasing unit volume while putting pressure on price. We expect that this trend will continue into 2012.”

This revenue increase is certainly a step in the right direction for Realogy, who saw a 10 percent decrease for the third quarter from 2009 to 2010.

Source: http://therealdeal.com/miami/articles/realogy-reports-10-percent-higher-revenue-year-over-year-in-3q