Crye-Leike breaks 40-year record with $6.36 billion in sales

by Zachary Wright

Crye-Leike, the nation’s fourth largest privately held residential real estate brokerage firm, saw an increase in sales in 2016. The Tennessee-based company ended the year with a sales volume of $6.36 billion, which was up 10.8 percent from $5.74 billion the previous year. According to CEO Harold E. Crye, the company surpassed its initial sales goal of a 5 percent increase, marking their highest sales performance in over 40 years.

“Our network of over 3,200 Crye-Leike sales associates has been opening doors and connecting people to the world of homeownership for the past 40 years,” says President Dick Leike. “And during that 40-year period, Crye-Leike is proud to report that we have impacted 629,148 families by helping them realize the dream of homeownership. Homeownership will continue to be one of the most sound long term investments most buyers will ever make.”

The sales figures for the company included new and existing single-family homes, condos and duplexes and a total of 126 company-owned and franchise offices in operation in 2016.

Additionally, Crye-Leike’s number of sales units increased by 4.4 percent during a time when decreases in the number of sales units were seen across the housing market due to tight inventory in many places.

“Even though we know we will face headwinds of higher rates (around mid-to upper 4.5 percent); continuing shortages of new construction (lack of lots, tougher lending standards and a shortage of labor); lack of existing inventory for sale and student loan debt, we still think that the overall economic growth, improving employment picture and more household formation, will have an overall positive impact and increase both volume and number of sales,” says Crye, “barring an uncontrollable event in the global economic picture.”

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