Main observation results for October
• Continued reduction in agent mobility:
The seasonally adjusted AMI index fell to 86.2 in October, further reducing agent liquidity and continuing the downward trend observed in recent months.
• Factors influencing decline
The presidential election and the implementation of the National Association of Realtors (NAR) settlement appear to have had a significant impact on the propensity of agents to move between agents.
• Slight upward adjustment:
Although the seasonally adjusted index for September was revised slightly upward, this adjustment did not go far enough to reverse the overall downward trend in agent migration.
• Potential for future recovery:
There is also cautious optimism that this decline could reverse in the coming months as the election ends and the industry adjusts to the NAR settlement.
Rob Keefe commented on these developments: “October data highlights the significant impact recent events have had on the industry. The combination of political uncertainty and major regulatory changes clearly influenced the agency’s decision to maintain the status quo. However, as these factors stabilize, we expect brokerage firms to remain vigilant and move forward as the market adjusts to the new normal. We need to prepare for the possibility of increased activity.”
This month’s findings continue the trends observed in recent AMI releases. The September 2024 report already showed a sharp decline in agent liquidity, with the seasonally adjusted figure being the lowest for the month in eight years. October’s data confirms that this downward trajectory continues, albeit with some moderation as indicated by the upward revision to September’s numbers.
In October, AMI posted a trailing 12-month score of 96.0, a monthly score of 89.6, and a seasonally adjusted number of 86.2. All of these reflect a continued decline in agent mobility. These indicators serve as important indicators for brokerages and real estate professionals navigating current market conditions.
Rob Keefe is the founder of Relitix.
This column does not necessarily reflect the opinion of HousingWire Editorial Department or its owners.
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