Realogy Corp., parent company of five large residential realty franchises including Coldwell Banker and Century 21, has announced a net loss of $1.9 billion in 2008.

The 2008 loss follows a net loss of $841 million in 2007. Realogy reported their year-over-year sales volume decreased by 18 percent last year.

The company was named by U.S. News and World Report as one of 15 companies that may fail in 2009, a claim they have vehemently denied.

Realogy was purchased for $2 billion in 2007 by New York City-based Apollo Management L.P.

Century 21 Real Estate, ERA, Coldwell Banker, Sotheby’s International Realty, and Better Homes and Garden’s Real Estate all operate under Realogy’s umbrella.

"We join [Realogy CEO Richard Smith] and his team in recognizing the challenging task before management in navigating through this extremely difficult time in housing and our nation’s economy," said Marc Becker, a partner with Apollo. "We are impressed with their efforts to remain in the forefront of the industry while optimizing their business model. The premise of our original investment in Realogy has not changed and we look forward to supporting the company through what will likely be another difficult year in housing."

Apollo is the former owner of home goods retailer Linens ‘N Things, which filed for bankruptcy in 2008.