Key observations from October
• Continued decline in agent movements:
The seasonally adjusted AMI measure for October fell to 86.2, marking another decline in agent mobility and continuing the downward trend of recent months.
• Factors influencing deterioration
The presidential election and the implementation of the National Association of Realtors (NAR) settlement appear to have had a significant impact on real estate agents’ propensity to switch between brokers.
• Slight adjustment upwards:
The seasonally adjusted September measure was adjusted slightly upward, but this adjustment did not reverse the overall downward trend in agent traffic.
• Potential for future recovery:
Now that the elections are behind us and the industry is adjusting to the NAR settlement, there is cautious optimism that this decline can reverse in the coming months.
Rob Keefe commented on these developments: “The October data underlines the significant impact of recent events on our industry. The combination of political uncertainty and major regulatory changes has clearly impacted officers’ decisions to stay put. However, as these factors stabilize, we expect a potential recovery in agent mobility. Brokers must remain vigilant and be prepared for a possible rebound as the market adapts to the new normal.”
This month’s findings continue the trend observed in recent AMI publications. The September 2024 report had already indicated a sharp decline in officer mobility, with the seasonally adjusted figure for that month reaching an eight-year low. October’s figures confirm that this downward trajectory continues, albeit with some moderation, as evidenced by the upward revision of September’s figures.
October’s AMI recorded a trailing twelve month score of 96.0, a monthly score of 89.6 and a seasonally adjusted figure of 86.2, all reflecting the continued decline in agent movements. These statistics serve as crucial indicators for brokerage firms 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’s editorial staff and its owners.
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