Real Estate Trends: Number of Agents Too High Says New Report
According to the Swanepoel Trends Report 2007 the past six years comprised one of the hottest real estate markets on record during which time the country experienced a buying frenzy fed by low interest rates, a plate full of new mortgages, bullish customer confidence, low unemployment, strong economic growth and excellent price appreciation. "This has lead to an industry with way too many agents, says Stefan Swanepoel, author of the Swanepoel Trends Report.
(PRWEB) January 30, 2007 -- According to the Swanepoel Trends Report 2007 (http://www.realestatetrendsreport.com) the past six years comprised one of the hottest real estate markets on record during which time the country experienced a buying frenzy fed by low interest rates, a plate full of new mortgages, bullish customer confidence, low unemployment, strong economic growth and excellent price appreciation.
"This has lead to an industry with way too many agents, says Stefan Swanepoel, author of the Real Estate Trends Report. "Adjustments on various levels would be a good thing for the industry but may be slow in coming, as the industry is still dealing with the hangover effect of a reasonably strong residential market," he said.
Although the average Realtor sold fewer transactions in 2006 than five years before many have still remained active in the market. Normally supply and demand would result in halting the influx of new agents, but alas commission income was supplemented by the sharp increase in house prices and cushioned this event. However now with house prices declining, there will be an increasing number of agents not earning an acceptable living so an overall reduction in the number of agents and Realtors is inevitable for 2007 the Swanepoel Trends Report (http://www.retrends.com) predicts.
This prediction has lead to numerous comments being posted on his blog site at http://www.realblogging.com. According to some, the real estate frenzy of the last couple of year will have a hangover affect and will also cause:
| | - A reduction in number of real estate transactions
- A decrease in housing prices
- A reduction in mortgage brokers
- A rise in the number of foreclosures
- An increase in mortgage fraud
|
For details on many more real estate trends identified by Swanepoel visit http://realestatebooks.org and get a copy of his most recent Report due for release next week. For a $30 discount prior to publication use the promo code PRWeb.
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