If you need yet another sign the market is in decline, just ask the people who’ve made it their business: real estate agents.
According to a monthly report by Alignable, 31% of real estate agents struggled to pay rent on their offices in December, slightly down from 37% in November. While the situation seems to be slightly improving, it is still a concerning sign.
To be sure, it’s a competitive career — the National Association of Realtors saw its membership rise to an all-time high of 1.56 million in 2021 — up from 1.49 million the year before. But with the available inventory dropping off a cliff and interest rates on the rise, many agents are floundering.
My advice to Boston real estate agents entering the business, don’t leave your current job, if you do have some money saved up because your first check may take a few months to arrive as it is commission driven industry.