Homelight is an Arizona -based real estate platform designed to connect an agent to a client. The company’s 2024 Top Agent Insights Survey has collected viewpoints from more than 750 real estate agents from October 30 to November 15.
According to the report, more than half of the agents (59 %) reported that the number has increased rapidly to emergency demands. The first home buyer is struggling to achieve housing ownership without extra help. Agent reported that 27 % of the first timer buyers had demanded the purchase of a mortgage rate from the seller. Homelight pointed out that this is more common in existing home sales.
According to National Real Estate Association (NAR) 24 % of recent buyers He was the first person. In comparison, the first buyer accounted for 40 % of the market before 2008. Homelight emphasized the increase in cash only as a factor in keeping the first buyer away from the market, as we have to compete with all chash buyers. Real estate investor.
The decline was a problem for the first home buyer, and it depended on family gifts to cover these prepaid expenses. Homelight stated that this is a sign that housing owners are increasingly lurking in generations.
According to the report, recent changes in business practices in the real estate market have discouraged their first buyers. Homelight discovered that the NAR committee’s lawsuit and the reconciliation resulted in uncertain buyers and sellers how to handle the change in the buyer broker contract.
“It has an unintended adverse effect on the most vulnerable buyer group. The first buyer and low -income buyers. On the other hand, the luxury market has prospered, has not been affected, and further expands the gap between classes. I am, “according to the agent in the Texas survey.
Other agents reported that the NAR settlement has complicated complicated for buyers and sellers. One respondent says, “Because the buyer is always short of money, it may be difficult to pay an agent fee if the seller does not intend to pay the securities company committee.”
Despite the prediction of more than 6 % of mortgages in 2025, agents want a market change. Homelight reports that 45 % of agents nationwide will decrease in interest rates and return the buyers to the market.
This optimism is reflected in the expectations that cooling inflation and changes in policy can improve market conditions. Agents believe that bystanders will jump on the opportunity to buy a house under better conditions.
