Inman | Marian McPherson
The past two-plus years have been a smorgasbord of opportunity for the real estate industry, as record-low mortgage rates and other socio-economic factors sparked blazing home sales. Established agents posted banner years in transactions and sales volume, and more than 180,000 new agents entered the industry, hoping to capture their piece of the pie.
However, the market trends that gave agents a fierce tailwind in 2020 and 2021 are waning — mortgage rates are slowly rising, home prices have sailed past their previous peaks, buyers are getting weary and inventory has dipped to astonishingly low levels. In the words of former Nest Realty broker-owner Jennifer Kjellgren, 2022 is shaping up to be “the perfect storm” for agents.