eXp World posts Q1 growth as housing market steadies

eXp World reported Q1 revenue of $1.01 billion, surpassing Wall Street estimates by 3.4%. This growth was driven by improved agent productivity, cost efficiencies, and international expansion. The U.S. housing market saw a slight increase in existing-home sales by 0.2% in April, supported by lower mortgage rates, although inventory remains low. Looking ahead, eXp World aims to utilize its new franchise model and enhance technology tools to sustain revenue growth and improve profit margins.