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Berkshire Is Betting on a Housing Rebound

It's realty unit continues to expand its reach


home for saleA company owned by Warren Buffett’s Berkshire Hawthaway (BRK.A, BRK.B) is expanding its presence in the realty market.

After a wave of acquisitions that boosted its reach in Missouri and the Northwest over the past two years, HomeServices of America is turning its attention to the Middle Atlantic states. The company has acquired Prudential & Roach Realtors, which serves Delaware, Pennsylvania and New Jersey, Bloomberg notes.

Homebuilders: A Case of Too Far, Too Fast
Homebuilders: A Case of Too Far, Too Fast

After adding Prudential & Roach — which operates 62 offices, employing 4,000 representatives — HomeServices of America will compete in 24 states.

In addition to HomeServices of America, Berkshire Hathaway holds a large stake in the biggest issuer of U.S. mortgage loans, Wells Fargo (WFC).

Earlier this year, Standard & Poor’s cut Berkshire Hathaway’s credit rating to double-A, warning that the company is too dependent on dividends from its insurance operations.

Shares of Berkshire Hathaway fell about 1% in Thursday morning trading.

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