A new study by real estate professionals reveals a wide array of challenges faced by a growing number of buyers and sellers in the U.S. today.
According to a report released Monday by the National Association of Realtors, more than 6.2 million people have sold their homes in the past year and are now renting.
That’s up nearly 15% from last year, but still a far cry from the more than 10 million homes sold during the 2008 housing boom.
Despite the growing popularity of the home buying and selling process, the study found that buyers and the housing industry remain deeply divided on how best to use the real estate market.
While both sides agree that there’s an oversupply of homes and an ever-growing supply of housing, they differ on how to best utilize the market to make the best financial decisions for the buyers and their families.
“The real estate industry is very different than it was a decade ago, but there’s still plenty of room for improvement,” said Stephen R. Pincus, president and chief executive officer of the National Realtor’s Association.
“We need to come together and find common ground, and we need to stop blaming the system for the market’s problems.”
The report by the Realtorp Foundation found that the vast majority of those surveyed believed that the current housing market is undervalued, and that the U,S.
real estate sector is a “perfect storm” of factors that makes it difficult for investors to make a profit.
Accordingly, a large portion of the respondents said they believe the market will remain undervalued for at least another year, and it will likely remain that way for the foreseeable future.
Despite these challenges, the survey found that many in the industry are optimistic that the real property industry will see significant improvement over the next year or so.
The Realtortowners report recommends a variety of strategies to help buyers and home sellers navigate the current real estate marketplace, including:•The ability to identify the right buyer in the market at a moment’s notice•A greater understanding of the value of a property•An understanding of market fundamentals•Consulting with real estate agents, real estate brokers, realtors, and home owners•The development of a buyer’s guide•A new inventory management system that can help homeowners avoid the mistakes of the past•A willingness to learn about home construction trendsThe report also found that most people in the realtor industry agree that the supply of homes is oversupplied, and there’s little room for improvements in the current market.
In fact, the majority of respondents also believe the current supply of houses is unsustainable.
“I don’t see how we can get past this,” said R. Lee Johnson, a senior realtor and member of the Realty Advisors Association.
“When you have a glut of homes, you need to be willing to get into the housing market with a buyer in your market.
It’s very hard to get people into the market if the market is not even the right one for you.””
It’s not going to go away, and I don’t know what we’re going to do.
I’m just waiting to see what happens in the next couple of years,” said Pincu, the Realeutors president.”
What’s the solution?”
“What’s going to make people want to come back?
If we don’t make a lot of money from the home selling process and make people buy more of the homes, it’s not sustainable.”
In addition, the report found that both sides of the property sales aisle agree that a growing percentage of buyers are turning to renting, a practice that can be both challenging and expensive.
As the U.,S.
economy continues to grow, more and more people are choosing to live and work in places where there is less need for them to own a home.
This has caused the realtorship industry to experience a steady increase in demand for its services.
“Realtors are the last line of defense in this process, and if we don, then we’re not going anywhere,” Johnson said.