IPOs Are the Latest Sign of Real Estate's Rebirth

Photograph by Daniel Acker/Bloomberg

For several months, we’ve been reporting—cross your fingers—that the housing market may finally be on the upswing. Today’s news that the private equity firm Apollo Global Management is about to take its realty brokerage arm, Realogy, public (as RLGY) is just the latest sign of optimism. Apollo hopes to raise as much as $1.08 billion in the deal for Realogy, which counts Century 21, Coldwell Banker, and Sotheby’s International Realty among its brands.

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